e-forecasting.com releases Second Estimate of August US Monthly GDP

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US MONTHLY GDP REVISED DOWN IN AUGUST

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FOR IMMEDIATE RELEASE

Contact:
Maria E. Simos
65 Newmarket Road
Durham, NH 03824
Phone: 603-868-7436
http://www.e-forecasting.com
info@e-forecasting.com

e-forecasting.com releases Second Estimate of August US Monthly GDP

US MONTHLY GDP REVISED DOWN IN AUGUST


Durham, NH – September 16th 2008 – Economic research firm e-forecasting.com today announced that their preliminary, or second, estimate of US monthly GDP for August was revised downwards revealing a 0.3 percent decrease in August.

Following an increase of 0.2 percent in July, the real-time monthly GDP, expressed at seasonally adjusted annual rates in chained 2000 prices, decreased 0.3 percent in August to $11,747.6 billion, from a previously estimated $11,782.3 billion with their first estimate.

Analyzing the full report, CEO Maria Simos shares, “the six-month annualized growth rate is a good indicator of turning points in the business cycle. The long-term growth rate of our US monthly GDP is 3.3 percent. The economy typically is in expansion when above this and in contraction when below. In August, the six-month growth rate was 1.2 percent, which is about half-trend. The growth rate peaked last July at 3.7 percent and has steadily gone down since. Since the 60s, each time this rate goes into negative territory, the US entered a recession. The next few months will prove to be immensely telling for the US economy”

e-forecasting.com, an international economic research and consulting firm, offers forecasts of the economic environment using proprietary real-time economic indicators and produces company and industry-specific leading indicators for its clients. In cooperation with its affiliate, Infometrica, Inc., e-forecasting.com works with business publications and clients across the globe to provide industry, country and state-level economic content on a monthly and quarterly basis thus their predictive intelligence input is used by practitioners around the world.



For a full press release including charts, please see attached PDF or contact: info@e-forecasting.com
Phone: 603-868-7436
 


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