Because for all intents and purposes, the markets closed unchanged.
The first estimate of Q2 2010 GDP was released today: 2.4%. Pretty weak.
Q1 GDP was revised up to 3.7% from 2.7%. Go figure. In April the estimate was 3.2%. Then in May it was down to 3%. By June it was down to 2.7%. Now we're back up all the way to 3.7%. Who believes this stuff?!
Q4 2009 was reported today at 5%. That's down from 5.7% in April.
Worst of all, perhaps, 2009 overall was revised downward. It had been thought the economy shrank last year at 2.4%. Now the estimate is that it shrank 2.6%, despite the late surge in Q4. "The steepest drop since 1946," according to this story, which goes on to say 3% growth at least is needed just to keep up with population growth.
Look out below!
