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View All NewsDepartment of Commerce lowers GDP estimate
May 27, 2010
U.S. real gross domestic product rose at an annual rate of 3.0% in the first quarter, according to a second estimate released today by the U.S. Department of Commerce. The second estimate is down compared to an advance estimate of 3.2% released in April.
MarketWatch reported economists had expected growth to be revised up to 3.5%.
Real GDP had grown 5.6% in the fourth quarter. However, it contracted 6.4% in the first quarter of 2009.