Although the major indicators of the U.S. economic activity continue to point upward, analysts are keeping a wary eye on inventories. Last month, the Commerce Department released a revised estimate of second-quarter real GDP growth showing that the economy expanded at an annualized rate of 3.6% - 1.4% higher than previously reported. The revision was attributed to higher-than-expected growth in both exports and June inventories.
Suggested citation: “Economic Activity,” Federal Reserve Bank of Cleveland, Economic Trends, no. 97-09, pp. 10-11, 09.01.1997.