September 11, 2009

For the second straight month GDP forecasts were revised higher for all periods. The predicted annualized GDP growth rate for the third quarter of 2009 increased the most to 3.0% from 2.4%. This is a substantial increase over the 0.6% rate the economists predicted just three months ago. The fourth quarter of 2009 and first and second quarters of 2010 saw smaller upwards revisions to 2.5% from 2.1%, to 2.6% from 2.4% and to 2.9% from 2.8% respectively.

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