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
GDP Grew More in Q2 Than First Reported
Household items are displayed in a store window on Tuesday, May 22, 2007 in New York.   (AP Photo/Mark Lennihan)

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. (More GDP stories.)

Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.