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  • Economy: 1Q Looks Even Worse, But 2Q Looks Good

    The government’s final estimate of 1Q GDP comes out tomorrow, and it is expected to be revised from -1.0% to near -2.0%. Based on recently released data, it is clear that healthcare spending by consumers was considerably lower in the 1Q than first estimated. We’ll look at some of the reasons why.

    From there, we’ll look at some disturbing economic data which show that businesses in the US are shutting down faster than new ones are starting up. This has never happened before in America according to a new Brookings Institute study.

    Next, we’ll review some recent developments which suggest economic growth has accelerated sharply in the 2Q. Most forecasts for 2Q GDP are at 3% or better. Our first look at 2Q GDP will come in late July.

    Finally, there is news that the US Immigration and Customs Enforcement (ICE) agency knew back in January that a flood of undocumented children – specifically 65,000 – were going to pour across the Texas border this year. They requested help on a government website.  This has the potential to be really BIG!

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