-6% I guess its up from here.... I can guarantee you that over the next 6-12 months -2 to -4% will look just great and by the time we get back to 0-1% GDP, the markets will recover all losses because 1% GDP is extremely positive compared to no growth but down significantly from 4% which we wont see ANYTIME SOON......
Consumer spending is what makes the economy go round and round, however don't expect consumer spending to create a stronger economy like we had from 2002-2008. Those days are completely over.
With an increase in consumer spending, and the massive amount of govt. spending...it's really interesting that GDP was still down that much. I haven't read any of the reports yet, but sounds like investment component is the albatross around the neck of the GDP number.
Agreed. They may not be completely over but we will not see it for a long time at least. I think the fact that the GDP decline is slowing and consumer spending is up is definitely good news for the economy in terms of the worst being over.