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August 29, 2013

2ndQ2013 GDP Revised upward

August 29, 2013

2ndQ2013 GDP Revised upward

GDP (1st revision for 2ndQ2013)

– Real (inflation adjusted) GDP Quarter/Quarter (seasonally adjusted, annualized) 2.5%. Previous was 1.7%

– GDP price Deflator Quarter/Quarter (seasonally adjusted, annualized)  0.8%. Previous was +0.7%.

The changes came largely from exports (+1.11%) and investments (+0.90%.)

Real per-capita disposable income improved and it is now reported to have increased by an annualized $228 from quarter to quarter

Jobless Claims  (week ended 8/24/2013)

– New Claims (seasonally adjusted) 331,000. Previous revised to 337,000

– 4-week Moving Average  331,250. Previous was 330,500

– New Claims (unadjusted) totaled 277,359 in the week ending August 24, a decrease of 2,959 from the previous week.

Corporate Profits (2ndQ2013)

– After-tax Profits Year/Year +5.8%. Previous was +3.5%.