July 30, 2010
GDP Growth Slows
By Brandon Butler
The national Gross Domestic Product slowed its growth this quarter from a 3.7 to 2.4 percent annualized increase in the second quarter, according to the federal Bureau of Economic Analysis.
The GDP measures the total output of goods and services around the country.
Factors contributing to a positive GDP gain include increases in nonresidential fixed investments, exports, personal consumption and federal government spending.
Increases in imports, which weigh on the GDP, and a decrease in private inventory investments compared to the previous quarter caused the decline in GDP growth.
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