Preview: Second Quarter GDP Expected to Post 2.3% Growth
July 30, 2008 – 10:38 amThe consensus forecast expects U.S. GDP growth to come in quite a bit better than the two previous quarters, as exports have surged on the weak dollar and the fiscal stimulus package has provided a boost to consumption.
The advance Q2 GDP report is expected to show growth of 2.3% in Thursday's report from the Bureau of Economic Analysis, a significant advance following 1.0% growth in Q1 and a dismal 0.6% rate in the final quarter of 2007. However, forecasts are abnormally wide for the report, ranging from 0.9% to 4.2%.
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