Q2 PCE inflation index little changed at 1.7%
Corporate profits rise $10.4 billion last quarter
Q2 sales of equipment and software lowered to 3.0%
Drop in government spending revised down to 0.9%
Personal spending also revised up to 1.7% vs. 1.5%
Rise in Q2 imports revised down to 2.9% from 6.0%
U.S. economy's growth revised up in second quarter
U.S. expanded at 1.7% rate vs. first read of 1.5%
From the BEA:
Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 1.7 percent in the second quarter of 2012 (that is, from the first quarter to the second quarter), according to the "second" estimate released by the Bureau of Economic Analysis.
U.S. grew at revised 1.7% pace in second quarter - MarketWatch
No QE3...no need for it.
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