Recent economic data, including downward revisions in first-quarter GDP estimates, suggest continued moderate growth with high levels of resource utilization. The Commerce Department lowered its 1996:IQ growth estimates from 2.8% to 2.3% due to downward revisions in business inventories.
Suggested citation: “Economic Activity,” Federal Reserve Bank of Cleveland, Economic Trends, no. 96-06, pp. 08-09, 06.01.1996.