Exactly they are revising estimates of growth for the second quarter and they are even lower. The economy is almost completely stagnant.
WASHINGTON (MarketWatch) -- Growth in the U.S. economy from April through June was probably much softer than first estimated by the government, private economists said Wednesday after updated trade figures for June were published showing higher imports.
"The markets might face their biggest downside economic surprise of this recent growth slowdown yet in the form of a downward second quarter gross domestic product revision, which today's U.S. trade deficit figures suggest will be a whopper," wrote analysts at Action Economics.
http://www.marketwatch.com/sto...-gdp-seen-2010-08-11