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| A Quick Look at Third-Quarter Gross Domestic Product (#1) - Oct. 28, 2005 |
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Summary
Earlier this morning, the Commerce Department released its first estimate of third-quarter gross domestic product. The report indicated real growth at a 3.8% annual rate during the period, higher than the 3.3% rate reported for the second quarter.
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The Commerce Department's initial ("advance") estimate of third-quarter gross domestic product indicated real growth during the period of 3.8%, versus a 3.3% rate during this year's June quarter.
The report showed a sizable increase in inflation -- sensible, considering what took place during the third quarter. On the other hand, the data contained a few items that were less cogent, or at least it is less clear that they were as bullish as some on Wall Street are immediately representing them.
Soon, I will publish a detailed look at today's numbers.
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