The nation's Gross Domestic Product increased to an annual rate of 3% during the first three months of 2010, that's less than the 3.2% original estimate, the Commerce Department reported today.
The first quarter numbers are down from the last three months of 2009, when the gross domestic product rose 5.6%.
From January to March, real gross domestic purchases-purchases by Americans of goods and services wherever they were produced-increased 3.6%, compared to a 5.2% increase during the fourth quarter.
Exports increased 7.2% in the first quarter, compared with 22.8% in the last three months of 2009.
Imports rose 10.4%, compared to 15.8% in the last quarter of 2009.
Consumers paid more for some products. The price index for gross domestic purchases increased 1.7%, compared with the final three months of 2009.
Personal consumption expenditures increased by 3.5%, compared to the 1.6% rate in the fourth quarter.
Residential fixed investment, which includes housing, fell 10.7%, compared with a 3.8% rise in the last quarter of 2009.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
