Thursday, September 30, 2010

Third Estimate on GDP Continues to Indicate Down Trending Economy

Don't let the supposed label of "third estimate" fool you into thinking that GDP is a very precise number. It is not. It is a very rough approximation of what is going on in the economy. 

That said, real gross domestic product grew at an annual rate of just 1.7% in the second quarter of 2010, according to today’s third estimate.  This follows a growth rate of 3.7% in the first quarter.

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