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Hickey and Walters (Bespoke) submit: An article in yesterday's Wall Street Journal, titled "In a Sea of Optimism, Why Some Forecasters Warn of Recession," highlighted the economic bearishness of Parsec Financial Advisor's James Smith. Mr. Smith is forecasting a year-over-year decline of 1.4% for second quarter US GDP. Below we highlight Bloomberg's poll of 69 economists for second quarter GDP numbers as of June 8th. Clearly, Mr. Smith's negative forecast stands well apart from the average estimate of 2.6%.

We've also included Bloomberg's second quarter CPI poll. This poll consists of 68 economists and was last updated on June 8th. The average estimate for second quarter CPI is currently 2.44% with a high of 4% by BNP Paribas.

gdp cpi

Source: Second Quarter GDP and CPI Forecasts Call For Moderate Growth, Inflation