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domestic demand

It Simply Doesn’t Add Up

By |2013-08-29T10:28:18-04:00August 29th, 2013|Markets|

Second quarter preliminary GDP estimates were revised upward over the advance estimate, from 1.7% to 2.5%. Based on trade data released in the past month, this is not much of a surprise, though the size of the revision is somewhat larger than expected. Of course, because the purchase of imported goods (and a few services) is negative in the GDP [...]

Recovery Is Still Wanted(ing)

By |2013-06-26T15:27:23-04:00June 26th, 2013|Economy, Federal Reserve/Monetary Policy, Markets|

On March 28, 1997, the Bureau of Economic Research downgraded economic growth estimates for the fourth quarter of 1996. Over the course of the two months between the advance estimate, preliminary estimate and final estimate, the BEA reduced GDP by a rather large 0.9%. The reduction in GDP then was similar in absolute size to the current revisions to Q1 [...]

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