Revised 2Q GDP Shows 1.0% Contraction

WASHINGTON — The second-quarter real gross domestic product revision was down 1.0%, unchanged from the original estimate, but the underlying data suggest an economy poised for growth after four consecutive quarters of decline.

The second-quarter data included upward revisions to exports and consumption that were offset by downward revisions to inventories and nonresidential spending. These boosted real final sales to a 0.4% rise after three declines, in turn suggesting that the economy might be readying an advance.

— Market News International

For reprint and licensing requests for this article, click here.
MORE FROM BOND BUYER