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You know this is a month and a half ago yes? It was a pretty big topic, but the number was largely attributed to colder than normal winter weather. The current Q2 advance reading of +4.0% has done much to allay fears of recession. The GDP estimates are usually optimistic versus the actuals, but a +4 print is pretty good. We'll see what the final reading in September brings but it would have to be a huge revision to bring into negative territory. If history repeats itself, the final number may be lower than 4%, but should nowhere near approach Q1's abysmal reading.
