GDP Grew More in Q2 Than First Reported

Commerce Department revision shows healthier growth
By Nick McMaster,  Newser Staff
Posted Aug 28, 2008 12:06 PM CDT
Household items are displayed in a store window on Tuesday, May 22, 2007 in New York.   (AP Photo/Mark Lennihan)
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(Newser) – GDP growth was higher than initially reported in the second quarter, the Wall Street Journal reports. Commerce Department revisions put the increase at a seasonally adjusted 3.3% annual rate—the original estimate was 1.9%. Businesses decreased their inventories less than previously thought. At the same time, exports rose more than thought, while imports fell more.