US Gross Domestic Product grew during third quarter of 2005
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The US government released a preliminary report on the US economy today. The report, produced by the Bureau of Economic Analysis, states that the economy grew by 4.3 percent in the third quarter of 2005. In the second quarter of 2005, real GDP increased 3.3 percent. The rise is attributed to increases in personal consumption (4.2 percent), equipment and software (10.8 percent), government spending, and residential fixed investment (8.4 percent). Imports, which deduct from the GDP, also increased. Exports, however, increased. Government c
The US government released a preliminary report on the US economy today. The report, produced by the Bureau of Economic Analysis, states that the economy grew by 4.3 percent in the third quarter of 2005. In the second quarter of 2005, real GDP increased 3.3 percent.
The rise is attributed to increases in personal consumption (4.2 percent), equipment and software (10.8 percent), government spending, and residential fixed investment (8.4 percent). Imports, which deduct from the GDP, also increased. Exports, however, increased.
Government consumption expenditures increased 8.1 percent. National defense had an increase of 10.3 percent. Nondefense spending increased 3.6 percent.
Gross national product, which better reflects the economy in from the employee's perspective, increased 4.4 percent in the third quarter.
Sources & reporting note
Licensed archive reporting by Wikinews contributors. Text: CC BY 2.5 (https://creativecommons.org/licenses/by/2.5/). Original source date retained. 411 has not independently verified this archive report.
Read the source: Wikinews ↗Source published 1 Dec 2005, 05:30 am IST
