The 2020 Mid-Year Economic Update_long

1Q GDP Growth Slows

Real gross domestic product -the output of goods and services produced by labor and property in the U.S. -increased at an annual rate of 1.3% in the first quarter of 2007, according to advance estimates released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.5%.
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The first-quarter preliminary" estimates, based on more comprehensive data, will be released May 31, 2007.
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The increase in real GDP in the first quarter primarily reflected positive contributions from personal consumption expenditures (PCE) and state and local government spending.
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The deceleration in real GDP growth in the first quarter primarily reflected a downturn in exports, an upturn in imports, a deceleration in PCE for nondurable goods, and a ...

Real gross domestic product -the output of goods and services produced by labor and property in the U.S. -increased at an annual rate of 1.3% in the first quarter of 2007, according to advance estimates released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.5%.
&nbsp ;
The first-quarter preliminary” estimates, based on more comprehensive data, will be released May 31, 2007.
&nbsp ;
The increase in real GDP in the first quarter primarily reflected positive contributions from personal consumption expenditures (PCE) and state and local government spending.
&nbsp ;
The deceleration in real GDP growth in the first quarter primarily reflected a downturn in exports, an upturn in imports, a deceleration in PCE for nondurable goods, and a downturn in federal government spending that were partly offset by a smaller decrease in private inventory investment, an upturn in equipment and software, a smaller decrease in residential fixed investment, and an acceleration in PCE for durable goods.

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