The U.S. economy grew more quickly than previously estimated in the fourth quarter as businesses maintained fairly solid spending and restocked shelves. Gross domestic product growth was revised up to an annualized rate of 3.1 percent, the Commerce Department said in its final estimate, close to its initial estimate of 3.2 percent. Get the full story »
Inside these posts: GDP
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Fourth-quarter GDP growth revised down to 2.8%
The economy grew much slower than originally thought at the end of 2010, according to new estimates released by the government Friday.
Gross domestic product, the broadest measure of economic activity, was revised sharply lower to an annual growth rate of 2.8 percent in the three months ending in December. The initial reading had been for a 3.2 percent growth rate in the period. Get the full story »
GDP up 3.2% in 4Q as spending buoys economy
The U.S. economy gathered speed in the fourth quarter, though a touch below expectations, with the biggest gain in consumer spending in more than four years and strong exports offering the clearest signals yet that a sustainable recovery is under way. Get the full story »
U.S. 3Q growth revised upward to 2.6%
U.S. economic growth was a touch higher than previously estimated in the third quarter, but below expectations as a rise in the pace of inventory accumulation was offset by downward revisions to consumer spending, a government report showed on Wednesday.
Gross domestic product growth was revised up to an annualized rate of 2.6 percent from 2.5 percent, the Commerce Department said. Get the full story »
3Q GDP revised upward to 2.5%
The U.S. economy grew faster than previously estimated in the third quarter, government data showed on Tuesday, but still not enough to address stubbornly high unemployment. Gross domestic product growth was revised up to an annualized rate of 2.5 percent from 2.0 percent as exports, and consumer and government spending were stronger than initially thought, the Commerce Department said in its second estimate. Get the full story »
Still-sluggish economy grew at 2% in third quarter
By Don Lee | The U.S. economy continued to plod along at sluggish pace in the third quarter, not enough to generate momentum or bring down the nation’s high jobless rate. The nation’s gross domestic product, or the value of all goods and services produced inside U.S. borders, grew at an annualized rate of 2 percent in the July-to-September quarter, the Commerce Department said Friday.
Economy slows, 2Q GDP revised to 1.6%
U.S. economic growth slowed more sharply than initially thought in the second quarter, held back by the largest increase in imports in 26 years, a government report showed on Friday. Gross domestic product expanded at a 1.6 percent annual rate, the Commerce Department said, instead of the 2.4 percent pace it had estimated last month. Get the full story »
U.S. trade deficit widens in June
The U.S. trade deficit widened a surprising 18.8 percent in June on a surge of consumer goods from China and other suppliers, suggesting U.S. second-quarter economic growth was much weaker than previously thought. The monthly trade gap totaled $49.9 billion, the highest since October 2008, the Commerce Department reported on Wednesday, as U.S. exports stumbled a bit. Get the full story »
Imports slam GDP; Midwest activity expands
U.S. economic growth slowed in the second quarter as companies invested heavily in equipment from abroad and the pace of consumer spending eased, raising concerns about the recovery in the rest of 2010. Gross domestic product expanded at a 2.4 percent annual rate, the Commerce Department said in its first estimate on Friday, after an upwardly revised 3.7 percent growth pace in the January-March quarter.
Financial markets had forecast GDP, which measures total goods and services output within U.S. borders, growing at a 2.5 percent rate in the second quarter from a previously estimated a 2.7 percent rate for the first three months of this year. Get the full story »
Revised U.S. data show a deeper recession
The U.S. economic recession was more severe than previously estimated, the government said Friday in a series of data revisions that also showed growth at the end of last year was weaker than previously thought.
Benchmark revisions issued by the Commerce Department showed gross domestic product contracted 2.6 percent last year and the economy did not grow at all in 2008. It had previously estimated output fell 2.4 percent in 2009 after expanding 0.4 percent the prior year. Get the full story »
1Q economic growth revised down to 2.7%
U.S. economic growth was slower than previously estimated in the first quarter as estimates of business and consumer spending were cut, according to government data on Friday. In its final estimate, the Commerce Department said gross domestic product expanded at a 2.7 percent annual rate instead of the 3 percent pace it reported last month. Get the full story »
