Friday, August 27, 2010

Q2 GDP Revised Down to 1.6%

Look for the MSM to try and torture this figure into some sort of "good news".
U.S. economic growth slowed more sharply than initially thought in the second quarter, held back by the largest increase in imports in 26 years, a government report showed on Friday.

Gross domestic product expanded at a 1.6 percent annual rate, the Commerce Department said, instead of the 2.4 percent pace it had estimated last month.

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