11. Concern over accelerating inflation has lead to upward revisions to U.K. interest rate expectations. 12. Finally, an upward revision in second-quarter GDP also means productivity was higher than previously reported. 13. German bonds were little changed as a better-than-expected domestic bond sale offset an upward revision to June Western German inflation. 14. German rate cut hopes were further eroded by an upward revision in June factory orders. 15. Greenspan attributed the upward revisions in the surplus projections to the remarkable growth in labor productivity, the economic payoff of new information technologies. 16. In fact, Warantz said, the proportion of upward revisions among mid-caps recently passed that of large caps for the first time in five years. 17. Including an upward revision for November, recent construction activity has held up better than expected. 18. It also pointed to the upward revision in growth during the fourth quarter of last year. 19. Moreover, the upward revision showed less production going into inventories and more of it to meet demand. 20. Most people were anticipating an upward revision. |