Positive Variance (Nonsense Reporting) in Revamped GDP Detail
Intensified versus Softening, Non-Expanding Underlying Economic Reality

Advance Estimate of Second-Quarter 2017 Real GDP Came in at a
Near-Consensus 2.57% versus a Revised First-Quarter 1.24% (Previously 1.42%)

Despite Rapidly-Faltering Activity in Key Underlying Economic Series,
Second-Quarter GDP Gained both Quarter-to-Quarter and Year-to-Year

With Headline Real GDP Growth Approaching, but Still Below Historical Averages,
Slowing Quarterly Inflation and Relatively Stronger Inventory Changes
More than Accounted for the Increase in Real Second-Quarter Growth

Benchmark Revisions Lowered 2016 Annual Real Growth to
Its Lowest Reading Since the 2009 Depths of the Recession

With Advance Second-Quarter Activity Yet to Be Reported,
Real First-Quarter Gross National Product (GNP)
Revised Lower to 0.94% (Previously 1.07%)

The Theoretical GDP Equivalent, Real Gross Domestic Income (GDI),
Revised Higher to 2.23% (Previously 1.01%) in the First-Quarter, Thanks to
Massive Downside Revisions to Second-, Third- and Fourth-Quarter 2016

Better-Quality Series Continue Showing Protracted-Economic Collapse, with
No Recovery of Pre-Recession Highs, No Economic Expansion