Saturday, December 21, 2013
Browse »
home»
1
»
9
»
down
»
first
»
gdp
»
growth
»
quarter
»
revised
»
to
»
First Quarter GDP Growth Revised Down to 1 9
GDP growth in the first quarter was revised down to 1.9% in the BEA’s second estimate. This growth represents a slowdown from the 3.0% pace set in the fourth quarter of 2011, but is significantly better than the 0.4% growth in the first quarter of last year.
The revisions to the forecast were primarily due to increased drags from government spending and net exports. Government expenditures proved a 0.8% drag, more than the 0.6% initially reported. Net exports drag slowed growth by about 0.1%. Personal consumption reduced its contribution to growth as well, adding 1.9%, down from 2.0% in the first estimate.
Fixed investment improved in the second estimate, contributing 0.6% to growth, up from the 0.2%.
First Quarter GDP Growth Revised Down to 1 9
The revisions to the forecast were primarily due to increased drags from government spending and net exports. Government expenditures proved a 0.8% drag, more than the 0.6% initially reported. Net exports drag slowed growth by about 0.1%. Personal consumption reduced its contribution to growth as well, adding 1.9%, down from 2.0% in the first estimate.
Fixed investment improved in the second estimate, contributing 0.6% to growth, up from the 0.2%.
