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Growth in Real GDP Slows

 

Dec. 22, 2006 -- The real Gross Domestic Product -- the output of goods and services produced by labor and property -- increased at an annual rate of 2 percent in the third quarter, according to a release today by the Bureau of Economic Analysis.

In the second quarter, however, real GDP increased 2.6 percent.

The increase is largely due to contributions from personal-consumption expenditures, exports, equipment and software, nonresidential structures, and state and local government spending, the report said.

The slow down in growth primarily reflects an increase in imports, which are a subtraction in the calculation of GDP.

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