GDP Profits Hold The Answers To All Questions
Revisions to second quarter GDP were exceedingly small. The BEA reduced the estimate by a little less than $800 million out of nearly $20 trillion (seasonally-adjusted annual rate). The growth rate therefore declined from 2.03502% (continuously compounded annual rate) to 2.01824%. The release also gave us the first look at second quarter corporate profits. Like the headline GDP revisions, there [...]
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