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Thursday, July 31, 2008

Q2 GDP / Revisions...

July 31 (Bloomberg): The economy grew at a 1.9 percent rate from April through June, less than forecast, after a 0.9 percent gain in the first quarter that was smaller than previously estimated, the Commerce Department said in Washington. The report also contained annual revisions that lowered the growth rate back to 2005 and showed the economy contracted in the last three months of 2007.

Check out the revisions in 'State and Local' Consumption, Expenditure, and Investment below. Further proof of the struggles States are facing in this economic environment.