Reply #22: I'll have to hunt up SnowJob's projections,

[UpInArms]

but here is a breakdown article on the GDP

http://www.usatoday.com/money/economy/gdp/2004-09-29-gdp-final_x.htm?POE=NEWISVA

excerpt:

The Commerce Department said the April-to-June increase in the gross domestic product — the country's total output of goods and services — was revised upwardy 0.5 percentage point from its estimate of a 2.8% pace.

Even with the revision, the 3.3% GDP growth rate was down significantly from the 4.5% rate of increase turned in during the January-March quarter as consumers, buffeted by rising energy prices, cut back sharply on their spending in other areas during the spring. It marked the slowest growth rate since a 1.9% increase in the first three months of 2003.

Consumer spending grew at a 1.6% annual rate — the softest since 1% in the second quarter of 2001 — from 4.1% in the first quarter.

The upward revision Wednesday in GDP for the second quarter is sure to be cited by the Bush administration as proof that the economy is regaining its footing and the recovery from the 2001 recession remains on track.

<snip>

The biggest factor contributing to the upward revision in second-quarter GDP growth came from a reduction in the amount of imports coming into the country from the previous estimate. Imports of foreign products, because they are not made in the United States, subtract from GDP growth.

Other factors contributing to the 0.5 percentage point increase in GDP was an upward revision in the estimates of U.S. exports and a larger buildup of inventories than previously believed.