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GDP is Revised Upward, Boosted by Defense
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| Contributor | Ced |
| Last Edited | Ced Aug 28, 2003 10:45am |
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| Category | News |
| Media | Website - Yahoo News: Iran |
| News Date | Thursday, August 28, 2003 06:00:00 AM UTC0:0 |
| Description | "Soaring defense spending pushed U.S. economic growth in the second quarter to a faster pace than previously thought, the government said on Thursday in a report that was the latest in a string of data indicating the economy is on the mend.
Gross domestic product, or GDP, grew a revised 3.1 percent in the second three months of the year, the Commerce Department said -- a figure broadly in line with Wall Street expectations for a 3.0 percent gain. That was up from the 2.4 percent rise estimated a month ago and followed anemic 1.4 percent growth in each of the two prior quarters." |
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