The advance estimate of GDP for Q2 2010 was revised down today to 1.6% from 2.4%, on surging imports and slower growth in corporate profits. The latter, according to news reports, came in at an increase of 2.9% in the second, off fully 50% from the Q1 rate of 5.8% growth in corporate profits.
The next revision to GDP is expected at the end of September.
