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| Second-Quarter 2005 GDP - "Preliminary" Estimate (#1) - Aug. 31, 2005 |
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Summary
Earlier today, the Commerce Department released its latest estimate of second-quarter gross domestic product. The report indicated real growth during the period at a 3.3% annual rate, a bit slower than the 3.4% rate reported in the first estimate, which was released on 7/29.
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Earlier today, the Commerce Department released its second ("preliminary") estimate of second-quarter gross domestic product. According to Commerce, real GDP grew at an annual rate of 3.3% during the quarter, versus the 3.4% rate that was indicated in the report issued on 7/29.
The latest report shows a slightly higher inflation rate for the overall GDP implicit price deflator, and a slightly lower rate for the implicit price deflator used for personal consumption expenditures.
I will soon publish a more detailed analysis of today's numbers.
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