WASHINGTON, July 29 (Xinhua) -- U.S. real gross domestic product (GDP) in the second quarter is expected to contract by an annualized rate of 32.1 percent, according to the estimation from the Federal Reserve Bank of Atlanta's GDPNow model updated on Wednesday.
The latest estimation is up from a contraction of 34.3 percent released on Monday, factoring in this morning's Advance Economic Indicators report from the U.S. Census Bureau, and revising the contribution of the change in real private inventory investment to second-quarter real GDP growth.
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