Quote:
US Q2 GDP revised up to 3.3 pct gain due to higher exports, spending
WASHINGTON (Thomson Financial) - The US economy grew faster than expected in the second quarter of 2008 due to rising exports, falling imports, more consumer spending and less inventory reduction than initially reported, the Commerce Department said today.
The economy grew at a 3.3% annualized rate in the second quarter, a sharp upward revision from the 1.9% growth reported in Commerce's first estimate a month ago and higher than the 0.9% gain in the first quarter. The 3.3% GDP increase is the fastest pace since the third quarter of 2007, when GDP grew at a 4.8% annualized rate.
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Lots of blah-de-blah economics that's beyond me. But 3.3% GDP growth, adjusted for inflation, seems to me like a pretty good mark.