Skip to content

GDP Rose 2.8% in Fourth Quarter


 UPDATED:
1/27/2012 10:15:00 AM
Write a Letter to the Editor

Economy Expands at 1.7% for 2011, Commerce Department Says



Print This
 

The U.S. economy expanded at a 2.8% annual rate in the fourth quarter, the Commerce Department said Friday.

The gross domestic product growth rate followed a 1.8% gain in the prior quarter.

GDP for the full year expanded at a 1.7% rate, below the 3% growth rate in 2010, Commerce said.

The fourth-quarter rate was below economists’ estimates of 3%, Bloomberg reported.

Consumer spending, which accounts for about 70% of the economy, grew at a 2% rate.

Thursday’s fourth-quarter GDP figure was the first of three to be released by Commerce.

Follow Transport Topics on RSS Twitter Facebook


 Print This
 


© 2011, Transport Topics Publishing Group. All rights reserved.

 

 

RELATED ARTICLES

GDP Rose 2.8% in Fourth Quarter (1/27/2012 10:15:00 AM)
Nation’s Freight May Push Capacity Limits, Helping Boost Carrier Profits, Experts Say (1/2/2012 4:45:00 AM)
Third-Quarter GDP Rate Again Revised Downward (12/22/2011 11:00:00 AM)
2011’s Surge in Freight Volume, Profits Had Trucking Outpacing U.S. Economy (12/19/2011 10:00:00 AM)
Freight Tonnage Index Rises 5.7% (11/28/2011 9:00:00 AM)
Editorial: Looking Toward 2012 (11/28/2011 8:00:00 AM)
 

JOIN OUR NEWSLETTER
We'll deliver tax strategies to your inbox from our CPA firm.
We hate spam. Your email address will not be sold or shared with anyone else.