Real GDP increased 1.6 percent in the second quarter of 1998 after increasing 5.5 percent in the first quarter; the price index for gross domestic purchases increased 0.4 percent after decreasing 0.2 percent. Corporate profits decreased $9.5 billion in the second quarter after increasing $8.4 billion in the first. In the second quarter, the Federal Government current surplus increased $13.8 billion, to $72.6 billion, and the State and local government current surplus decreased $5.4 billion, to $134.8 billion.
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