ZH: Stagflation – Q1 GDP much weaker than expected on inventory...

Hot key for expectations

ZERO HEDGE reports:

With the Atlanta Fed showing a clear slowdown in US GDP in recent weeks, revealing estimates of US growth sliding from over 3% in late March to just 1.1% yesterday…

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… the trend is clear: the US economy is rapidly slowing down, in large part due to the “depressurization event” among small and medium regional banks, that has seen loan issuance grind to a halt. As such,  today’s first estimate of Q1 GDP would be interesting if very much dated.

And so, with most banks expecting a print just around 2.0% – the median forecast was at 1.9%…

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