#1 U.S. second-quarter growth trimmed to 1.1 percent; consumer spending raised by algernonpj 27.08.2016 17:56

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U.S. second-quarter growth trimmed to 1.1 percent; consumer spending raised
[Reuters]
ReutersAugust 26, 2016

WASHINGTON, (Reuters) - U.S. economic growth was a bit more sluggish than initially thought in the second quarter as businesses aggressively ran down stocks of unsold goods, offsetting a spurt in consumer spending.

Gross domestic product expanded at a 1.1 percent annual rate, the Commerce Department said on Friday in its second estimate of GDP. That was slightly down from the 1.2 percent rate reported last month.

The revision also reflected more imports than previously estimated as well as weak spending by state and local governments. The economy grew at a 0.8 percent pace in the first quarter. It grew 1.0 percent in the first half of 2016.

The revision to second-quarter GDP growth was in line with economists' expectations. The economy has struggled to regain momentum since output started slowing in the last six months of 2015, which puts it in danger of stalling.

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https://ca.news.yahoo.com/u-second-quart...--business.html

When you read this remember that this rip roaring GDP includes such things as government spending,'enhancements' to the definition of investment, an inflation rate that has also been 'enhanced' to report a much lower rate of inflation.

The blue line is the GDP adjusted by the real rate of inflation. I still includs goverrnment spending and enhanced definition of inflation.

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