Revised GDP growth figures not good.
Second-quarter gross domestic product grew at a disappointing 1.1 percent pace vs. the 2.4 percent growth rate that had been expected by economists polled by CBS.MarketWatch.com.
Additionally, first-quarter GDP was downwardly revised to show a 5 percent growth rate from the previously reported 6.1 percent rate. Inventory restocking fueled the brisk rate of expansion early in the year. And 2001 GDP rose only 0.3 percent, a steep downward revision from the 1.2 percent growth rate that had been previously reported.
