The GDP revisions will be especially important this year. Excerpts from a research piece by Michelle Meyer at Merrill Lynch: The moment of truth • The annual revision to GDP growth on July 30th will adjust estimates of growth over the past few years. If growth is indeed revised higher it would help solve the puzzle of low productivity growth. • This will also be the first release of the new GDP and GDI composite. This will show a stronger trend of growth given that GDI has outpaced GDP recently. • Taking a step back and examining a range of indicators reveals an economy expanding at a mid-2% pace, largely consistent ... (full story)