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 0.9 percent in the first quarter of 2008, according to preliminary estimates released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 0.6 percent.
The GDP estimates released today are based on more complete source data than were available for the advance estimates issued last month. In the advance estimates, the increase in real GDP was 0.6 percent.
The increase in real GDP in the first quarter primarily reflected positive contributions from personal consumption expenditures (PCE) for services, exports of goods and services, federal government spending, and private inventory investment that were partly offset by negative contributions from residential fixed investment and PCE for durable goods. Imports, which are a subtraction in the calculation of GDP, decreased.
The small acceleration in real GDP primarily reflected an upturn in inventory investment that was partly offset by a deceleration in PCE.
Final sales of computers contributed 0.06 percentage point to the first-quarter growth in real GDP after contributing 0.16 percentage point to the fourth-quarter growth. Motor vehicle output subtracted 0.35 percentage point from the first-quarter growth in real GDP after subtracting 0.86 percentage point from the fourth-quarter growth.
- Premium
Preliminary Estimates: U.S. GDP Growth at 0.9% in 1Q
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 0.9 percent in the first quarter of 2008, according to preliminary estimates released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 0.6 percent.
The GDP estimates released today are based on more complete source data than were available for the advance estimates issued last month. In the advance estimates, the increase in real GDP was 0.6 percent.
The increase in real GDP in the first quarter primarily reflected positive contributions from personal consumption expenditures (PCE) for services, exports of goods and services, federal government spending, and private inventory investment that were ...
The GDP estimates released today are based on more complete source data than were available for the advance estimates issued last month. In the advance estimates, the increase in real GDP was 0.6 percent.
The increase in real GDP in the first quarter primarily reflected positive contributions from personal consumption expenditures (PCE) for services, exports of goods and services, federal government spending, and private inventory investment that were ...
- Filed In: Subscriber Only, Research & Analytics, News, Free, Economic Trends
Share on facebook
Share on twitter
Share on linkedin
Share on email
Share on print
About the Author
Recommended Reading
Leave a Reply
MDM Update
Our daily newsletter is your best source for news and trends in the wholesale distribution industry
What We're Reading
Premium Access

Investment Banking Directory
The MDM Investment Banks in Distribution directory is a listing of firms with expertise in the wholesale distribution industry.
Sign Up for the MDM Update Newsletter
The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.