final revision Q1

The continuation of our economy's 'variable bouncing data' performance reflects upon the uncharted workings of the new normal...so many possibilities, so much data to parse, so many 'unexpected' data results...are we moving toward firmer economic ground; skating on thin ice or is there a titanic financial iceberg ahead just waiting for the black swan to appear?

Final Q1 GDP Revision

Initial Q1 GDP: 2.5%
Final Q1 GDP revision: 1.77%.
Personal Consumption Expenditures tumbled to just 1.83% of GDP. In absolute terms, PCE plunged from 3.4% to 2.6% on expectations of 3.4%. There goes the buying power of the over-levered, under-saved US consumer.
Fixed Investment, i.e. CapEx, cratered to only 0.39% of the GDP, down from 0.53% in the first revision. This as the lowest Fixed Investment number since Q3 of 2012. What is worse, is that non-residential fixed investment crashed from 2.2% to 0.4%.