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May 31, 2007
U.S. First Quarter GDP Revised Downward
First quarter economic growth was the weakest in four years, according to revised figures from the U.S. Commerce Department. The economy grew just 0.6 percent, down from the 1.3 percent estimate the department gave a month ago.
Growth was affected by a major sell off of business inventories in the first quarter and an increase in imports of foreign goods.
Posted by Blacks on May 31, 2007 09:31 AM
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