... and I guess people (including myself) should take back all the praise heaped on the Atlanta Fed forecast. Hypermind gets more wrong and their implicit forecast for Q3 and Q4 (shown as a dotted line segment below) appears to be rather high 4.4% (that's what's needed if the Q2 forecast is correct in order to achieve their annual number of 3.4%).
The arrow and the dark blue dot indicate the new downward revision from the BEA. I'll just quote from what I said when the first estimate came out a month ago:
Overall: a continuing a trend of lukewarm economic performance, largely still in line with just about any model of the economy.