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Q4 Advance GDP Steady at 0.6% in Q1, Slightly Above Forecasts |
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US Economy |
Written by CEP News |
Apr 30 08 12:33 GMT |
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(CEP News) - First-quarter 2008 advance GDP was flat at 0.6% growth rate, coming slightly above what analysts had expected and in line with the previous quarter's 0.6% increase, according to data released Wednesday by the U.S. Bureau of Economic Analysis.
Personal consumption in the first quarter posted a 1.0% increase, above the 0.7% growth level economists had expected and lower than the fourth quarter increase of 2.3%. Core PCE posted a 2.2% gain on a quarter-over-quarter basis, in line with the consensus estimate for a 2.2% rise and less than the fourth quarter's 2.5% growth rate. The GDP price index came in at 2.6% for the quarter, lower than the 3.0% economists had expected but higher than the 2.4% result in the previous quarter. By Stephen Huebl,
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, edited by Nancy Girgis,
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