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Advance Estimate of GDP for the Second Quarter of 2011 and A

Daily newsbrief journal for July 2011, also see http://www.usdemocrats.com/brief for a global 100-page perpetual brief and follow twitter @usdemocrats


Advance Estimate of GDP for the Second Quarter of 2011 and A

Postby admin » Fri Jul 29, 2011 3:02 pm

Advance Estimate of GDP for the Second Quarter of 2011 and Annual Revision
Posted by Austan Goolsbee on July 29, 2011 at 10:15 AM EDT

Today’s report shows that the economy posted the eighth straight quarter of positive growth, as real GDP (the total amount of goods and services produced in the country) grew, but at only a 1.3 percent annual rate in the second quarter of this year. The downward revision in the first quarter to 0.4 percent further reflects the slowdown of economic growth due to substantial headwinds faced in the first half of this year. Additionally, the annual revision to GDP showed that the Great Recession – the worst on record – was even deeper than originally estimated.

http://www.whitehouse.gov/blog/2011/07/ ... l-revision

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