September 29, 2011
GDP Revised Upwards For Q2
U.S. real gross domestic product grew at a faster pace in the second quarter than federal economists originally thought.
The Bureau of Economic Analysis announced a revision of the second quarter GDP growth rate to 1.3 percent. It had reported 1 percent growth last month. The BEA reports several estimates of GDP growth as more information becomes available. In the first quarter, GDP grew only 0.4 percent.
The second-quarter increase reflected positive contributions from nonresidential fixed investment, personal consumption expenditures, exports and federal government spending.
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