March 26, 2010
GDP Estimates Revised Downward
By Brandon Butler
The national economy grew by only a 5.6 percent annual rate in the fourth quarter of 2009 after the U.S. Bureau of Economic Analysts originally reported it grew at a 5.9 percent rate.
The Bureau released its third estimate of the U.S. gross domestic product Friday, which is a measure of all goods and services produced in the country. The Bureau reduced the figure by 0.3 percentage points after a more complete review of data.
Private inventory investment, exports and personal consumption expenditures all posted gains in the quarter. Imports, which have a negative impact on GDP, grew larger than expected.
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