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GDP rises only 0.6%

April 30 2008

U.S. real gross domestic product (GDP) increased at an annual rate of only 0.6% in the first-quarter, according to an advance estimate released today by the U.S. Department of Commerce. Real GDP had increased 0.6% in the fourth quarter as well.

Economists polled in the most recent Survey of Professional Forecasters by the Federal Reserve Bank of Philadelphia projected growth of 0.7% in the first quarter.


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