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Published on Friday, May 29, 2015 | Updated on Monday, June 1, 2015

1Q15 GDP Revision Hints at Minor Contraction

• Real GDP growth revised down from 0.2% to -0.7% QoQ SAAR in 1Q15 • Downward revisions stemmed from weaker net exports and private investment • Our expectations still stand for 2.9% growth in 2015, assuming continued improvement in both domestic and global activity