Liberalism: Do You Agree We've Had Enough of It? Message Board

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Politics : Liberalism: Do You Agree We've Had Enough of It?

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To: MJ who wrote (89937)	8/27/2010 7:40:51 AM
From: tonto	1 Recommendation Read Replies (1) of 224748

U.S. economic growth likely was much weaker than initially thought between April and June, hurt by surging imports and as rebuilding of business inventories softened, a government report is expected to show on Friday. Gross domestic product now is estimated to have grown at a 1.4 percent annual rate during the second quarter, rather than the 2.4 percent estimated in the government's first reading last month, according to a Reuters survey. The Commerce Department is due to release its second estimate of GDP at 8:30 am. GDP, which measures total goods and services output within U.S. borders, grew at a a much more robust 3.7 percent rate in the first quarter. The GDP data follows a series of disappointing reports on the housing sales this week and will add pressure on the Obama administration, which already is worried about a slowing economy ahead of November congressional elections. A White House official said on Thursday that a vacationing President Barack Obama was watching the economic data closely and may address it publicly.

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