Goldman Sachs lowers US 2Q 2012 GDP to 1.1 on bad retail sales numbers, follows 2 cuts in estimate last week

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7/16/12, "Goldman Cuts Its Q2 GDP Estimate Again To 1.1%, Just Above "Stall Speed"," Zero Hedge

"Just as we speculated less than an hour ago, here comes Goldman with its take of retail sales and its impact on GDP: "Retail sales decline more than expected in June. We revised down our Q2 GDP tracking estimate by two tenths to +1.1%. The Empire manufacturing survey rebounded somewhat in July although the details were mixed.""

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Last week Goldman lowered its 2Q GDP estimate twice in one day:

7/11/12, "Goldman Cuts US Q2 GDP Two Times In Two Hours," Zero Hedge



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