US GDP growth revised upward

  • Article by: MARTIN CRUTSINGER , Associated Press
  • Updated: August 29, 2013 - 3:16 PM

WASHINGTON — The U.S. economy grew at a 2.5 percent annual rate from April through June, much faster than previously estimated. The steep revision was largely because U.S. companies exported more goods and imports declined.

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theagonybhoAug. 29, 13 8:02 AM

Sure it did just keep telling yourself that, every number Washington puts out is either revised upward or downward. There currently isnt any numbers coming out of Washington that are correct.

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MNSports24Aug. 29, 13 8:57 AM

I just don't believe any of the numbers anymore. They are constantly "revised" and I can't wait to see how good they look around election time!

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dogmanAug. 29, 13 9:43 AM

"They are constantly 'revised'" -- The numbers are 'revised' because there are two timelines for receiving information to come up with the official numbers.. the 'revised' numbers includes all information and are deemed to be the final numbers _____ "There currently isnt any numbers coming out of Washington that are correct" -- unless they are bad numbers.. then the right preach them as gospel

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dumbgopAug. 29, 1310:38 AM

Sure pal. What else you got?

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dogmanAug. 29, 1311:35 AM

"Sure pal. What else you got?" -- I'm sure there was a point to that post.. but the meaning escapes me. I'm surprised none of the skeptics at least acknowledged the good news that the export/import numbers were better than expected.

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chuckynarz1Aug. 29, 1312:10 PM

This is the key factor for most of us. Consumer spending, which accounts for 70 percent of economic activity, grew by a 1.8 percent rate in the second quarter. That's unchanged from the initial estimate but down from a 2.3 percent growth rate in the first quarter.

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dentesterAug. 29, 1312:51 PM

1.7% to 2.5% "Much faster" "Sharply higher" LOL

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dlzabzAug. 29, 13 1:27 PM

2-4% is ideal, so this is good news. Hopefully, higher wages and more full-time employment will follow.

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theagonybhoAug. 29, 13 2:23 PM

dlzabz, thats funny houshold income fell to 2007 numbers and with Obamacare 2 months away lower wages and more part time work headed our way.

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jd55604Aug. 29, 13 4:54 PM

chuckynarz1: "This is the key factor for most of us. Consumer spending, which accounts for 70 percent of economic activity, grew by a 1.8 percent rate in the second quarter."......Consumer spending does not drive the economy. Productivity gains, private investment and savings drive the economy. If every consumer decides to go into debt by spending 110% of their income; it doesn't mean that the economy will grow by 10%.

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