Fourth-Quarter GDP Grows at 3.2% Rate



Click Here!


 Updated:
1/28/2011 11:15:00 AM

Economy Expands at 2.9% for 2010, Commerce Dept. Says

U.S. gross domestic product rose at a 3.2% annual rate in the fourth quarter, following a 2.6% expansion in the third quarter, the Commerce Department said Friday.

GDP for the full year expanded at a 2.9% rate, the most in five years, after contracting 2.6% in 2009, Commerce said.

The quarterly rate was below economists’ median forecast of a 3.5% rate, while the full year topped estimates of a 2.7% expansion, Bloomberg reported.

Consumer spending, which accounts for about 70% of the economy, rose at a 4.4% rate, the most since the first quarter of 2006. That followed a 2.4% increase in the third quarter.

Friday’s GDP figure is the first of three to be put out by Commerce.

Click Here!




© 2010, Transport Topics Publishing Group. All rights reserved.

RELATED ARTICLES

Fourth-Quarter GDP Grows at 3.2% Rate (1/28/2011 11:15:00 AM)
Analysts, Economists Differ on Outlook for Transportation, U.S. Growth (1/24/2011 2:30:00 AM)
Third-Quarter GDP Revised Upward Again to 2.6% (12/22/2010 11:45:00 AM)
Third-Quarter GDP Revised Up to 2.5% (11/23/2010 8:45:00 AM)
Third-Quarter GDP Rises 2% as Consumer Spending Grows (10/29/2010 10:40:00 AM)
Second-Quarter GDP Revised Up to 1.7% (9/30/2010 10:15:00 AM)
 
OTHER NEWS BRIEFS

Click Here!

JOIN OUR NEWSLETTER
I agree to have my personal information transfered to MailChimp ( more information )
Join over 3.000 visitors who are receiving our newsletter and learn how to optimize your blog for search engines, find free traffic, and monetize your website.
We hate spam. Your email address will not be sold or shared with anyone else.