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Washington Notebook: Optimism exists despite 2Q GDP downgrade

Regulatory/Trade

Tuesday, October 02, 2012

The U.S. economy performed worse in the second quarter than originally thought. The Bureau of Economic Analysis within the Commerce Department now says real gross domestic product grew 1.3 percent during the quarter instead of the 1.7 percent previously estimated. In the first quarter, GDP grew 2 percent. The deceleration in real GDP in the second quarter was related to a slower growth in personal consumption (1.5 percent vs. 2.4 percent in the first ...

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