The final estimate of second-quarter GDP growth is 1.6%, down from the 1.8% preliminary estimate. The downward revision reflects a lower estimate of inventory accumulation and a higher amount of imports. Combined, these more than offset an upward revision to consumer spending.
Suggested citation: "Economic Activity," Federal Reserve Bank of Cleveland, Economic Trends, no. 99-10, pp. 09-10, 10.01.1999.