US Q1 GDP Revisions Scream Stagflation

The third look at Q1 GDP appears to confirm the worsening picture of the US economy that is now evident in sentiment surveys nationwide.

Growth was revised even lower to -1.6% Annualized QoQ (from -1.5%)…

Personal Consumption growth collapsed from +3.1% to just +1.8% – weakest since the COVID lockdown collapse…

And finally, inflation – GDP Price Index – rose from +8.1% to +8.2% – the highest since June 1981…

So – stagflation it is… not exactly what The Fed wants to see.