The second estimate of GDP released by the BEA this morning increased from 5.7% to 5.9%. “The increase in real GDP in the fourth quarter primarily reflected positive contributions from private inventory investment, exports, personal consumption expenditures (PCE), and nonresidential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased. The acceleration in real GDP in the fourth quarter primarily reflected an acceleration in private inventory investment, an upturn in nonresidential fixed investment, a deceleration in imports, and an acceleration in exports that were partly offset by decelerations in PCE and in federal government spending.”
For the full story: http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm
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