Market Review, August 2011

Publication Date: 

September 2011

PDF File: 

PDF icon VCG Monthly Review August 2011.pdf

Summary: 

S&P downgraded U.S. sovereign credit rating from AAA to AA+ for the first time in history and placed the nation on negative outlook citing a broken political process. Economic data continued to be disappointing. The U.S. economy expanded at a slower pace than previously estimated during the second quarter of 2011. The second quarter real GDP was revised lower from the BEA’s advance estimate of 1.3% to 1.0%, primarily because of downward revisions to net exports and to inventory investment. These were partly offset by upward revisions to business fixed investment and to consumer spending.

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