On an annualized basis, GDP fell 0.7 percent - again exceeding expectations for a decline of 0.8 percent following the downwardly revised 1.3 percent contraction in the three months prior (originally -1.1 percent).
The GDP annual average was down 1.1 percent on quarter after slipping 0.6 percent in the previous quarter. Expenditure was up 0.9 percent on quarter, up from 0.6 percent in the previous quarter.
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