Thursday, August 28, 2008

Q2 Growth Revised Upward to 3.3 Percent

The U.S. GDP grew at a solid 3.3 percent annual rate in the second quarter. This strong number won't last if the Fed keeps money growth in the 2.5% range.

GDP grew at a sluggish 0.9 percent rate in the first quarter after a 0.2 percent contraction in the final three months of 2007. The fourth quarter of last year was the weakest since July-September 2001, when the economy was in recession.

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