Weaker-than-expected headline data in the next week should push consensus expectations meaningfully towards an outright quarter-to-quarter contraction for the April 29th initial estimate of first-quarter 2015 GDP growth. Once all revisions are in place, that first-quarter GDP contraction should be the deepest since the economic collapse from 2007 into 2009, and it would raise serious market concerns for a subsequent, second-quarter GDP downturn (release on July 30th) and formal recognition of a “new” recession. – John Williams,Shadowstats.com, April 10, 2015 TND Guest Contributor: Dave Kranzler Although the retail sales report for March showed a small bounce from February, it missed consensus estimates by a country mile. The sales report was boosted by a jump in auto sale in March.
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