Economy News

 

GDP Growth Unchanged In Second Quarter

GDP Growth Unchanged In Second Quarter

(24/7 News)  --  The economy is growing at a steady pace, though falling short of economist's expectations. 

The Commerce Departments reevaluation of the Gross Domestic Product in the second quarter remained unchanged at 2.5-percent.  Economists thought GDP would jump up a tick.  State and local spending rose, but were offset by companies restocking shelves less frequently than previously reported.  

Inflation measured by prices for consumer purchases fell a tenth of a percent, the first decline since the end of the Great Recession, which could be trouble if it indicates the economy is going into deflation.

 

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