U.S. GDP estimates revised lower

(Sept. 27, 2012) -- The third estimate of U.S. second-quarter 2012 GDP growth was an annualized 1.3 percent, which marked a larger-than-expected downward revision from the second estimate of 1.7 percent. In a separate report this morning, manufacturers’ new orders of durable goods plunged 13.2 percent in August following a downwardly revised 3.3 percent (was 4.1 percent) jump in July.