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Estimated Monthly GDP Is Declining...

David Beckworth looks at the estimates from Macro Advisers:

Macro and Other Market Musings: How Low Must It Go?: I was shocked to see the outright decline in May and June. Let's be clear what this development means: total current dollar spending declined during May and June in the U.S. economy.  And most likely it continued to fall in July and August given the weak economic outlook.