"Healthcare spending was critical in supporting 1Q GDP. With the census bureau’s release of the 1Q14 QSS survey yesterday, that estimate of healthcare spending saw a sharp negative reversal," wrote Daryl Jones in today's Morning Newsletter.
"The net-net of this is that the final estimate of 1Q GDP (June 25th) will be (even more) dismal and GDP is likely to miss the ever bullish consensus expectations for full year 2014."
