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| Second-Quarter Gross Domestic Product - "Final" Estimate (#1) - Sep. 29, 2005 |
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Summary
Earlier this morning, the Commerce Department released its final revision to second-quarter gross domestic product. The report indicated real growth during the June quarter at a 3.3% rate. This was unchanged from the prior estimate, released on 8/31.
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According to today's release from the Commerce Department, real GDP rose at an annual rate of 3.3% during the second quarter, versus a 3.8% rate during this year's first quarter.
Today marked the third or "final" release of second-quarter activity. The prior report, released on 8/31, indicated growth during the June quarter at the same 3.3% rate as today's report.
These data do not include any influence from hurricanes Katrina and Rita. Those will begin showing up in third-quarter GDP, the advance estimate of which is due out on 10/28.
I will soon publish a more detailed analysis of today's numbers.
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