Red alert: The US economy is going to contract sharply in Q2. - Part 2

https://www.cnbc.com/2020/07/30/us-gdp-q2-2020-first-reading.html

The US Q2 GDP collapsed by 32.9% and the Q1 GDP was revised down to -5%.  We're right again!

We had stated on numerous postings that the US Q2 GDP would be worse than Q1 by analyzing US consumer spendings and PMIs.  Therefore, the big drop in US Q2 GDP is an expected outcome if you've been following our earlier postings.

http://sg-stock.blogspot.com/2020/04/red-alert-us-economy-is-going-to.html

http://sg-stock.blogspot.com/2020/05/the-us-ism-pmi-in-april-had-worsened.html

http://sg-stock.blogspot.com/2020/06/the-imf-has-finally-agreed-with-our-us.html