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BRIEFLY

September 21, 1987

The U.S. economy grew at a moderate rate of 2.5% in the spring, due largely to the biggest surge in export sales recorded in seven years, the Commerce Department said. Commerce said the rise in exports, estimated at an annual rate of 17.9%, was accompanied by an 11.7% jump in business investment. The latest figure for the growth in gross national product was revised upward from a month ago, when the government estimated GNP at 2.3%. The new report also scaled back the increase in inflation for the period, showing a price index tied to GNP rising at an annual rate of 4.1%, down from 4.3%.

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