Thursday, March 28, 2013

US growth

"US growth data for the fourth quarter of 2012 was revised up again to an annualised rate of 0.4 per cent, providing further evidence that the US economy did not take a dip at the end of last year.
The third revision comes after an initial estimate that the economy shrank 0.1 per cent. That was later revised to growth of 0.1 per cent.

But the quarter was still dragged down by big falls in defence spending and business inventories, both of which analysts regard as temporary, suggesting that underlying growth continued at a slow but steady 2 per cent.

The big change in the latest revision was a much higher estimate of business investment in buildings. The Bureau of Economic Analysis now estimates that it added 0.46 percentage points to the growth rate instead of a previous estimate of 0.16 percentage points before.

A revival in the commercial real estate sector could add another leg to the economic recovery after a turnround in housing has helped to drive growth this year."

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