After Weak U.S. Second-Quarter GDP, Economists Say Worse to Come

July 31, 2008

Economists say the reported 1.9% GDP growth for the second quarter of
2008 was boosted by a 1.5% increase in consumption and a 2.4% gain in net
exports. The figure was lower than expectations, however, as inventories
saw a sharp reduction.

Aside from the headline, the big news came from revisions to
the previous two quarters…