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Economic Activity

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According to the U.S. Commerce Department’s final estimate, the annualized growth rate of real GDP in 2004:IQ was 3.9%, down from the preliminary estimate of 4.4%. Excepting nondurables, services, and changes in inventories, all components either decreased or remained unchanged from their previous four-quarter average.

Suggested citation: "Economic Activity," Federal Reserve Bank of Cleveland, Economic Trends, no. 04-07, pp. 10-11, 07.01.2004.

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