by Glenn Busch
August 26, 2011
Second quarter GDP was revised down and it came in below the consensus estimate. The first estimate released by the Bureau of Economic Analysis had a 2nd quarter GDP at 1.3%. Today’s release of the second estimate revised GDP growth down to 1.0% and the consensus estimate was 1.1%.
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by Glenn Busch
May 26, 2011
At first glance it looks good with a positive growth rate but the 2nd GDP estimate came in below expectations of a revision upwards to 2.1% on an annualized basis. The number is also well below 3%, the long-term average U.S. GDP growth rate, and far below where a growing economy should be after it has emerged from a recession.
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