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Wed May 23, 2012
A new report from the Bureau of Economic Analysis says America’s real gross domestic product (GDP) grew at a slight annual rate of 0.6-percent in the first quarter of 2008.
The Bureau concluded that the “increase in real GDP in the first quarter primarily reflected positive contributions from
personal consumption expenditures (PCE) for services, private inventory investment, exports of goods and services, and federal government spending 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, increased.”
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