FXstreet.com (Barcelona) - Gross Domestic Product (GDP) has increased 0.6% in the last quarter of 2007, an increase unchanged from the advanced ans estimation preliminary data released by the US Commerce Department.
The fourth quarter shows a substantial economic slowdown of US GDP with a 0.6% growht, from 4.9% posted in the previous quarter. Whole 2007 growth was 2.2%.
The major contributors of the GDP increased have been personal consumption expedintures, exports nonresidential structures, state and local government spending, and equipment and software, contributions which have been offset by negative input from private inventory investment and residential fixed investment. Imports, which are a substraction to the GDP have decreased.
Price index for Gross domestic Purchases, which measures prices paid by U.S. residents has increased 3.7% in the fourth quarter, from 1.8% in 3Q. Exluding food and energy, the GDP prices index increased 2.3%; up from 1.9% in the third quarter.
Real Personal Consumption Expenditures have increased 2.3%, compared to the 2.8% increase posted in the third quarter.Real exports of goods and services have grown 6.5%, down from the 19.1% in the 3Q, while imports have decreased 1.4%, in contrast to a 4.4% increase in the 3Q.