Arab Today, arab today us gdp drops 29 in q1
Last Updated : GMT 15:43:47
Arab Today, arab today
Arab Today, arab today

US GDP drops 2.9% in Q1

Arab Today, arab today

Arab Today, arab today US GDP drops 2.9% in Q1

U.S. economy
Washington - KUNA

 U.S. gross domestic product fell at an annual rate of 2.9 percent in the first quarter of 2014 which is below the initial estimate and the sharpest decrease since 2009, official data showed Wednesday.
In the fourth quarter of 2013, real GDP increased 2.6 percent.
The Department of Commerce said that the GDP estimate released today is based on more complete source data than were available for the "second" estimate issued last month.
In the second estimate, real GDP was estimated to have decreased 1.0 percent.
The Commerce indicated with the third estimate for the first quarter, the increase in personal consumption expenditures (PCE) was smaller than previously estimated, and the decline in exports was larger than previously estimated.
In this regard, Jason Furman, Chairman of the Council of Economic Advisers, said in a statement that first-quarter GDP was revised down today, "largely reflecting a re-estimation of consumer spending on health care, which was substantially lower than originally reported, as well as exports, which were below the initial estimates." "The GDP data can be volatile from quarter to quarter;" and that "the recovery from the Great Recession, however, remains incomplete," Furman stressed.
Furman affirmed that U.S. President Barack Obama "will continue to do everything he can to support the recovery, either by acting through executive action or by working with Congress on steps that would boost growth and speed job creation." The entire decline in overall GDP in the first quarter can be accounted for by a decline in exports and a slowdown in inventory investment, "two particularly volatile components of GDP." In addition, several components were likely affects by "unusually severe winter weather, including consumer spending on food services and accommodations, which fell for the first time in four years." Meanwhile, the Department of Commerce showed in a separate report that new orders for manufactured durable goods decreased USD 2.4 billion or 1.0 percent in May, reaching USD 238.0 billion.
This decrease, down following three consecutive monthly increases, followed a 0.8 percent April increase.
Excluding transportation, new orders decreased 0.1 percent, whereas excluding defense, new orders increased 0.6 percent.
It noted that transportation equipment, also down following three consecutive monthly increases, led the decrease, USD 2.3 billion or 3.0 percent reaching USD 74.4 billion

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us gdp drops 29 in q1 Arab Today, arab today us gdp drops 29 in q1

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us gdp drops 29 in q1 Arab Today, arab today us gdp drops 29 in q1

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today What's the reason and what you can do

GMT 05:44 2017 Sunday ,22 October

What's the reason and what you can do
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today IS caliphate's end 'in sight' after Raqa fall

GMT 14:48 2017 Sunday ,22 October

IS caliphate's end 'in sight' after Raqa fall
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 10:18 2017 Saturday ,21 October

How to do open-heart surgery

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday