The revised Gross Domestic Product surpassed predictions according to results released by the US Commerce Department this morning. The new figures indicate a 2.4 percent increase for the second quarter but this was tempered somewhat by news that corporate profits grew at their slowest rate in a year, and employee wages in the prior three months were revised lower.
Ã¢â‚¬Å“The economy has slowed a bit and will probably continue to slow through the second half,Ã¢â‚¬Â said John Silvia, chief economist at Wells Fargo Securities LLC in Charlotte, North Carolina. Ã¢â‚¬Å“WeÃ¢â‚¬â„¢re skating on thin ice, and we donÃ¢â‚¬â„¢t have a lot of margin for error.Ã¢â‚¬Â
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