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Why the revised Q2 GDP report next week may be the most important release in 10 years

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By New Deal democrat Why the revised Q2 GDP report next week may be the most important release in 10 years Last Thursday there were major backward revisions to unit labor costs. Since corporate profits deflated by unit labor costs are a long leading indicator, this had a big negative effect on the forecast for the next six months or so. Corporate profits for Q2 of this year will be released next week as part of the first revision of the GDP report, and because of the effect on the forecast, might be the most portentous report in 10 years. This post is up at Seeking Alpha.

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by New Deal democrat

Why the revised Q2 GDP report next week may be the most important release in 10 years

Last Thursday there were major backward revisions to unit labor costs. Since corporate profits deflated by unit labor costs are a long leading indicator, this had a big negative effect on the forecast for the next six months or so. Corporate profits for Q2 of this year will be released next week as part of the first revision of the GDP report, and because of the effect on the forecast, might be the most portentous report in 10 years.

This post is up at Seeking Alpha.

Dan Crawford
aka Rdan owns, designs, moderates, and manages Angry Bear since 2007. Dan is the fourth ‘owner’.

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