The US economy grew at a rate of 5.7% in the fourth quarter of 2009, according to data released by The Bureau of Economic Analysis this morning. That represents the highest quarterly growth in 6 years, and the growth was largely on improving inventory data. From the BEA release:
The increase in real GDP in the fourth quarter primarily reflected positive contributions from private inventory investment, exports, and personal consumption expenditures (PCE). Imports, which
are a subtraction in the calculation of GDP, increased.
The acceleration in real GDP in the fourth quarter primarily reflected an acceleration in private inventory investment, a deceleration in imports, and an upturn in nonresidential fixed investment that
were partly offset by decelerations in federal government spending and in PCE.
The Wall Street Journal's News Hub team--in this case Kelly Evans, Evan Newmark, and Dennis Berman--breaks down the data in their AM Report:
Posted
01-29-2010 9:21 AM
by
Graham Griffith
Filed under: government spending, Wall Street Journal, GDP, exports, growth, imports, inventories, Gross Domestic Product, manufacturing, goods, quarterly growth, inventory