August 27, 2010
GDP Estimates Revised Downward
By Brandon Butler
The national economy actually only grew by 1.6 percent during the second quarter of the year, not the 2.4 percent growth estimated by the U.S. Bureau of Economic Analysis last month.
Nonresidential fixed investment increased, as well as personal consumption and federal government spending, which all contributed to growth.
An increase in imports and a slowing of the private sector inventory investment offset gains.
WBJ Web Partners
Most Recent
Most Recent
0 Comments