27 Aug 2004 No Help for Bush or for Kerry
Posted at 16:05h in The Friday BriefThe U.S. Economy grew at a 2.8% annual rate in the second Quarter as higher oil prices dampened consumer demand and as imports of record amounts of foreign goods created a record trade deficit. Corporate profits after taxes, reported for the first time today, rose 17.9% in the 12 months ended in June. Business investment in equipment and software was revised up to the strongest pace since the third quarter last year. Consumer spending was revised upward in this report from last month’s preliminary number of 1% to 1.6%.