• GDP and Jobless Claims

    1 month ago - By Crossing Wall Street

    We had two more important economic reports this morning. The government said that real GDP grew at a 6.5% annualized rate during the second quarter. That's a big number but it was still below expectations of 8.5%. This is the initial report. It will be updated two more times.
    Gross private domestic investment fell 3.5% as declines in private inventory and residential investment held back gains. Rising imports and a 5% decline in the rate of federal government spending, despite the ballooning budget deficit, also were factors, the Bureau of Economic Analysis report said.
    The overall...
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