The pace of recovery slowed in the US in the first three months of
the year as government spending fell and a build-up in inventories
eased.
The commerce department said Friday that gross domestic product (GDP), the broadest measure of all the goods and services produced in an economy, grew at an inflation-adjusted annual rate of 2.2% in the first quarter of 2012.
Economists surveyed by Dow Jones Newswires had forecast first-quarter GDP would increase at a 2.6% rate. In the final three months of 2011, the economy grew at a 3.0% rate.
Consumers fuelled the rise, the commerce department said. Personal consumption expenditures rose 2.9% during the quarter – the best gain since the fourth quarter of 2010.
Most of the rise came from pent up-demand for cars. Motor vehicle output added 1.12% to the first-quarter change in real GDP.
The slowing expansion "primarily reflected a deceleration in private inventory investment and a downturn in non-residential fixed investment," a category that includes spending on building and industrial equipment.
Read more: http://www.guardian.co.uk/business/2012/apr/27/us-economic-growth-slows-rate?newsfeed=true
The commerce department said Friday that gross domestic product (GDP), the broadest measure of all the goods and services produced in an economy, grew at an inflation-adjusted annual rate of 2.2% in the first quarter of 2012.
Economists surveyed by Dow Jones Newswires had forecast first-quarter GDP would increase at a 2.6% rate. In the final three months of 2011, the economy grew at a 3.0% rate.
Consumers fuelled the rise, the commerce department said. Personal consumption expenditures rose 2.9% during the quarter – the best gain since the fourth quarter of 2010.
Most of the rise came from pent up-demand for cars. Motor vehicle output added 1.12% to the first-quarter change in real GDP.
The slowing expansion "primarily reflected a deceleration in private inventory investment and a downturn in non-residential fixed investment," a category that includes spending on building and industrial equipment.
Read more: http://www.guardian.co.uk/business/2012/apr/27/us-economic-growth-slows-rate?newsfeed=true
No comments:
Post a Comment