Thursday, August 31, 2006

It always happens that way

Second Quarter GDP and inflation numbers have been revised:

The American economy grew more quickly in the second quarter than the government had initially estimated, and inflation was slightly lower, the Commerce Department reported today.
The gross domestic product, a measure of all goods and services produced in the United States, increased at an annual rate of 2.9 percent, up from an earlier estimate of 2.5 percent, while a closely watched measure of prices that excludes food and energy rose 2.8 percent, rather than 2.9 percent.


The revisions were largely in line with expectations, but economists said the report was still a welcome sign at a time of significant uncertainty about the economy’s direction.

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