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Imports Hit Second-Quarter GDP Growth

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NNN0LHI Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Aug-14-10 08:51 AM
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Imports Hit Second-Quarter GDP Growth
http://online.barrons.com/article/SB50001424052970203880104575419362609321410.html?mod=googlenews_barrons

Economic Beat | SATURDAY, AUGUST 14, 2010

THE U.S. ECONOMY'S REARVIEW mirror darkened last week. Real growth of gross domestic product in the second quarter, previously reported at an annual rate of 2.4%, will likely be halved to just 1.2% when the next estimate is released Aug. 27

The main reason: Imports soared in the second quarter by much more than originally anticipated, led by that well-known powerhouse, China.

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