(S (S (BASENP (DT The) (NNP Reserve) (NNP Bank)) (VP (VP (VBD estimated) (NP (BASENP (JJ real) (NN GDP) (NN growth)) (PP (IN in) (NP (BASENP (DT the) (JJ first) (NN quarter)) (PP (IN of) (BASENP (NN 2006-07))))))) (PP (IN at) (NP (BASENP (NN 8.9) (NN %)) (COMMA ,) (ADVP (RB up) (PP (IN from) (NP (BASENP (NN 8.5) (NN %)) (BASENP (JJ last) (NN year))))))))) (PERIOD .))