Bull Trip!: GDP Report Q4 2012 (Second Estimate)
On a year-over-year basis, real GDP increased 1.61% while the quarter-to-quarter non-annualized percent change was an increase of a slight 0.03%.
The latest quarterly results indicate that the most notable source of weakness in the economy came from declines in exports with the "net-exports" component declining at an annualized rate of 3.9% from Q3, and notable declines in government spending particularly on national defense with a 22.0% decline in federal national defense spending from Q3.
Residential investment, on the other hand, worked to buoy the overall fixed investment component growing at an annualized rate of 17.5% from Q3.
Keep in mind that these results are likely very poorly estimated and are sure to be revised notably in following quarters and even years to come.
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