FOR IMMEDIATE RELEASE
Contact:
Maria E. Simos
65 Newmarket Road
Durham, NH 03824
Phone: 603-868-7436
http://www.e-forecasting.com
info@e-forecasting.com
e-forecasting.com releases Second Estimate of August US Monthly
GDP
US MONTHLY GDP
REVISED DOWN IN AUGUST
Durham, NH – September 16th 2008
– Economic research firm e-forecasting.com today announced that
their preliminary, or second, estimate of US monthly GDP for
August was revised downwards revealing a 0.3 percent decrease in
August.
Following an increase of 0.2 percent in July, the real-time
monthly GDP, expressed at seasonally adjusted annual rates in
chained 2000 prices, decreased 0.3 percent in August to
$11,747.6 billion, from a previously estimated $11,782.3 billion
with their first estimate.
Analyzing the full report, CEO Maria Simos shares, “the
six-month annualized growth rate is a good indicator of turning
points in the business cycle. The long-term growth rate of our
US monthly GDP is 3.3 percent. The economy typically is in
expansion when above this and in contraction when below. In
August, the six-month growth rate was 1.2 percent, which is
about half-trend. The growth rate peaked last July at 3.7
percent and has steadily gone down since. Since the 60s, each
time this rate goes into negative territory, the US entered a
recession. The next few months will prove to be immensely
telling for the US economy”
e-forecasting.com, an international economic research and
consulting firm, offers forecasts of the economic environment
using proprietary real-time economic indicators and produces
company and industry-specific leading indicators for its
clients. In cooperation with its affiliate, Infometrica, Inc.,
e-forecasting.com works with business publications and clients
across the globe to provide industry, country and state-level
economic content on a monthly and quarterly basis thus their
predictive intelligence input is used by practitioners around
the world.
For a full press release including charts,
please
see attached PDF or contact:
info@e-forecasting.com
Phone: 603-868-7436
# # #
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