Cutback in nonresidential building blamed for downwardly revised Q1 GDP

06/26/2013 | MarketWatch · Reuters

Weaker business investment was one reason cited by the Commerce Department when it revised the country's first-quarter gross domestic product growth rate from an earlier estimate ot 2.4% to 1.8%. Another factor for the lowered GDP increase was an 8.3% decline in investment in nonresidential buildings, a number much higher than had been anticipated.

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MarketWatch · Reuters

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