Second-quarter GDP declined less than previously thought, but the economy is still shrinking
CNN
The US economy shrank at a slightly slower rate than estimated during the second quarter, according to updated data released Thursday by the US Bureau of Economic Analysis.
The nation's gross domestic product -- the broadest measure of economic activity -- shrank 0.6% at an annualized rate from April through June. The activity was revised upward from the advanced estimate released in July, which showed a 0.9% decline.
The GDP update, which is based on more comprehensive data, includes slight upward revisions to consumer spending and private inventory investments.
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