A downward revision of the latest economic growth indicators prompted analysts to predict that property and casualty insurers will not see a reversal in pricing or significant boost in earnings anytime soon.
The U.S. government revised its second-quarter gross domestic product figure to 1.6 percent, down from an earlier forecast of 2.4 percent.
The U.S. Bureau of Economic Analysis said the revision was primarily due to “a sharp acceleration in imports and a sharp deceleration in private inventory investment.”
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