WASHINGTON — The gross domestic product grew by 1.9% in the second quarter, up from .9% during the first three months of 2008, the Commerce Department announced today.
The increase was fueled by exports, consumer spending as a result of government stimulus checks and government spending, the department said. Exports were up 9.2% while imports were down 6.6%.Personal consumption expenditures rose 1.5%.
Some economists had predicted higher GDP growth because of the stimulus checks.
Consumers also paid more for many products. The price index for what the department calls “personal consumption expenditures” rose 4.2%, up from 3.5% in the first quarter. Much of that increase came from the higher costs of energy and food.
The department also revised some past GDP data, which showed that the nation's economic performance last year was worse than originally reported. The GDP fell .02% in the last quarter of 2007, and did not grow .6%, as the department stated earlier this year.
The Labor Department reported that the number of people filing first-time jobless claims rose to 448,000 last week, up from 404,000, the week before. The new figure represented the highest rate since April 2003. The four-week average was 393,000, the highest since October 2005.
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