This week’s data on housing sales (new and existing) and a revised estimate of Gross Domestic Product (GDP) for the second quarter (Q-2) will most likely document further deceleration of the recovery.  And with each new release, concern about the likelihood of a “double-dip” (i.e., renewed economic contraction) will increase.
 
But the double-dip concerns, while not implausible, remain improbable. 

 

Click here to read this week's J.H. Cohn Economic Notes by Patrick O'Keefe, J.H. Cohn's director of economic research.