By Daniel Foty
This morning, the Commerce Department released its initial estimate for GDP growth in 2Q11 - and its revised numbers for 4Q10 and 1Q11.
As Oscar Wilde famously said when asked his opinion of the bagpipes, "Thank God there's no smell"....
o 4Q10 revised - was +3.1%, now +2.3%;
o 1Q11 revised - was +1.9%, now +0.4%.
o 2Q11 - first read today of +1.3%.
This is awful.
And Estonia is looking better and better, isn't it?