> Q2 Real GDP

Real GDP contracted at an annualized rate of 1.0 percent during 2009's second quarter, according to the BEA's second estimate (formerly known as the preliminary estimate). This matches the BEA's advance estimate, and is better than expectations that the revisions would show a 1.5 percent contraction. Inventories declined by more than initially estimated, but this was offset by a smaller trade gap, faster growth in government spending, and a smaller decline in consumer spending than allowed for in the advance estimate.

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