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US BEA: GDP Growth Revised Down In 2007, 2008, 2009

Armed with updated source data, the Bureau of Economic Analysis Friday released revised estimates for U.S. economic growth that indicate the deterioration in GDP in 2009 was slightly larger than previously estimated and followed downward revisions to growth in 2007 and 2008. In 2009, the annual rate of decline in GDP was revised down to 2.6% from the 2.4% drop originally estimated, with growth in the final two quarters of the year revised down. However, the decline in first quarter of 2009 revised up to a smaller, but still substantial, drop. On a Q4/Q4 basis, GDP is now reported up 0.2% in 2009, an upward adjustment from the originally published 0.1% gain, though that is due in...


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