26 Aug 2011 Few Offsets to the Negative Drift
Posted at 13:24h in The Friday BriefToday, the government revised its assessment of the US economy’s growth for the second quarter downward more than economists expected this morning. GDP grew at only 1%, down from a previous estimate of 1.3% in July. But the underlying numbers were more positive. Final sales of domestic product improved to a 1.1% annualized rate from 0.0% in the first quarter. Capital expenditures were revised to 7.9% from 5.7% and non-residential fixed investment was revised to 15.7% from 8.1%.