GDP estimates for the second quarter of 2010 were revised down today from 2.4% to 1.6% annualized growth. Economists had estimated that the forecast would be revised down even further to 1.3% or 1.4%. The new numbers confirm fears that the recovery has begun to stall and that growth may continue at a lower than expected pace. The downward revisions were expected after June numbers, released earlier in August, revealed a sharp deceleration of business inventory investment and a ballooning trade deficit that subtracted 3.4% from GDP -- the largest such deficit in 63 years. Consumer spending, the largest segment of the economy, grew for the fourth straight quarter, though only at a 2% rate.
Recovery Slowing.
GDP estimates for the second quarter of 2010 were revised down today from 2.4% to 1.6% annualized growth. Economists had estimated that the forecast would be revised down even further to 1.3% or 1.4%. The new numbers confirm fears that the recovery has begun to stall and that growth may continue at a lower than expected pace. The downward revisions were expected after June numbers, released earlier in August, revealed a sharp deceleration of business inventory investment and a ballooning trade deficit that subtracted 3.4% from GDP -- the largest such deficit in 63 years. Consumer spending, the largest segment of the economy, grew for the fourth straight quarter, though only at a 2% rate.
Unknown
About TeachingwithData.org
TeachingWithData.org is a partnership between the Inter-university Consortium for Political and Social Research (ICPSR) and the Social Science Data Analysis Network (SSDAN), both at the University of Michigan. The project is funded by NSF Award 0840642, George Alter (ICPSR), PI and William Frey (SSDAN), co-PI.
Translate
Search This Blog
Popular Posts
-
If you’ve hit the point in the semester where your classes have fallen into routines and you’d like to spice things up a bit, this webinar i...
-
A report published this spring by the Pew Research Center finds that 24% of teens go online “almost constantly . In addition Pew also rep...
-
On May 21, as a step in implementing the Improving Free Inquiry, Transparency, and Accountability at Colleges and Universities Executive Ord...
-
A study recently featured in the Journal of Comparative Economics examines income inequality in urban China. Capital income increased d...
-
According to the Washington Post, since 2009, the unemployment rate in the United States has dropped by 50% . The traditional...
No comments :
Post a Comment