FXstreet.com (Barcelona) - US Real Gross Domestic Product has increased in the first three months of the year somewhat faster than in the last quarter of the year, according to data released by the US Commerce Department.
US GDP increased 0.9% in the first three months of the year, up from the 0.6% increase posted in the last quarter of 2007. The advance reflects positive contributions from personal consumption expenditures (PCE) for services, exports of goods and services, federal government spending, and private inventory investment while residential fixed investment and PCE for durable goods contributed negatively. Imports, which subtract from GDP have declined.
The price index for Gross Domestic Purchases increased 3.5% in the first quarter, from 3.7% in the fourth quarter, excluding food and energy, the price index for gross domestic purchases increased 2.2 percent in the first quarter, down from the 2.3% increase posted in the previous quarter.
Real personal consumption expenditures increased 1.0% in the first quarter, down from a 2.3% increase in the previous quarter.