GDP data suggest U.S. is gradually emerging from recession

10/1/2009 | Google

GDP decline in the U.S. during the second quarter was not as bad as suggested by the government's preliminary estimate, according to updated data. GDP was down 0.7%, compared with the 1% forecast. "The downturn appears to have concluded this summer, and the economy is on track to grow for the first time in more than year, in the third quarter," said Aaron Smith of Moody's Economy.com.

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