US: Q1 GDP is expected to be revised to 1.0% - BBH

Research Team at BBH, suggests that the Q1 US GDP is expected to be revised to 1.0%, twice the initial estimate, though still disappointing. 

Key Quotes

“The second quarter is promising to be considerably better.  May personal consumption is expected to be consistent with around a 3.5% quarterly annualized pace.  If the other GDP components are a wash, Q2 GDP would be around 2.5% GDP.  June auto sales may be flat on a sequential basis but remain at elevated levels.”