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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (7630)	7/18/2010 1:37:38 PM
From: Hope Praytochange	Read Replies (1) \| Respond to of 218829

NEW YORK (MarketWatch) - Morgan Stanley and Action Economics lowered their forecasts for second-quarter growth in the U.S. after a weaker-than-expected report on June retail sales released on Wednesday cut into predictions for consumer spending. "Today's U.S. retail sales, inventory, and trade price data all reinforced market fears of a weakening pattern in U.S. economic growth," said analysts at Action Economics. The firm revised its second-quarter GDP outlook to just 2%, and said third-quarter growth is likely to come in under 3% as well. Morgan Stanley economist David Greenlaw said in a report that the firm sees GDP in the second quarter of around 3.2%, compared to its previous estimate for 3.6% growth. JP Morgan economists also said the data caused a reduction in their consumption expectations. Real GDP last quarter, excluding inflation effects, will be closer to 2.2%, JP Morgan economist Michael Feroli wrote in a report.