GDP Grows At 3.2%

Press Release from the Department of Commerce;

The increase in real GDP in the first quarter primarily reflected positive contributions from personal consumption expenditures (PCE), private inventory investment, exports, and nonresidential fixed investment that were partly offset by decreases in state and local government spending and in residential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased.

The deceleration in real GDP in the first quarter primarily reflected decelerations in private inventory investment and in exports, a downturn in residential fixed investment, and a larger decrease in state and local government spending that were partly offset by an acceleration in PCE and a deceleration in imports

Source:
Gross Domestic Product: First Quarter 2010 (Advance Estimate)
Commerce Department APRIL 30, 2010

http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm

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This entry was posted on April 30, 2010 at April 30, 2010 and is filed under U.S Market. You can follow any responses to this entry through the RSS 2.0 feed.