U.S. Economy Slowed to a 3% Rate in Second Quarter (compared to 4.5% 1st q

[papau]

he qtr's GDP price deflator was at 3.2 %, highest since Q1 2001- up from 2.7 % q1 2004.

http://quote.bloomberg.com/apps/news?pid=10000103&sid=aTdONqk5DNKw&refer=news_index

U.S. Economy Slowed to a 3% Rate in Second Quarter (compared to 4.5% 1st qtr)

July 30 (Bloomberg) --<snip> Consumer spending, which accounts for 70 percent of the economy, slowed to a 1 percent annual rate after a 4.1 percent pace in the year's first three months. Gasoline prices that held above $2 a gallon on average crimped sales at retailers such as Wal-Mart Stores Inc. Companies, more confident about the expansion, rebuilt inventories and bought more equipment. <snip>

Inventories grew $47.5 billion at an annual rate, compared with a revised $40 billion rise in the first quarter. Inventories added 0.28 percentage point to second-quarter growth, compared with 1.17 percent in the first quarter.<snip>

The trade deficit deteriorated in the second quarter to a gap of $552.8 billion from $550.1 billion in the first three months of the year.

Government spending increased 2.3 percent annual pace in the second quarter compared with a rise of 2.5 percent January through March.

The revisions cover all figures starting with the first quarter of 2001. The eight-month U.S. recession that ended in November 2001 was the shallowest on record and the subsequent recovery was also milder, the revised figures show. The economy grew 3 percent last year rather than the 3.1 percent estimated previously. It expanded 1.9 percent in 2002 and 0.8 percent in 2001. Previously, growth for 2002 and 2001 was estimated at 2.2 percent and 0.5 percent, respectively.

<snip>
The economy had added 1.3 million jobs this year and may create about a quarter million more in July, according to the median of economists surveyed by Bloomberg News. That may help bolster consumer spending, which economists surveyed by Bloomberg forecast to climb to 3.5 percent in the third quarter. <snip>

[tom_paine]

1. And THAT's with all the Sovietized Bushevik Numbers!

Can you imagine how bad the REAL situation is?

[mom cat]

2. Dimson is gonna winh he never used the words FUZZY MATH!!!

:dem:

[Moderator]

3. duplicate

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x717324