This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/8589533.stm
The article has changed 3 times. There is an RSS feed of changes available.
Version 0 | Version 1 |
---|---|
US economic growth revised down | US economic growth revised down |
(about 1 hour later) | |
US economic growth has been revised down, but remains comparatively strong at an annualised rate of 5.6% for the fourth quarter of 2009. | US economic growth has been revised down, but remains comparatively strong at an annualised rate of 5.6% for the fourth quarter of 2009. |
This is the rate of economic growth for the three months that assumes the same level for a full 12 months. | This is the rate of economic growth for the three months that assumes the same level for a full 12 months. |
It was revised down from 5.9%, in the US Commerce Department's third estimate of fourth-quarter GDP. | |
The main factors behind the revision were weaker personal and government consumption, and lower investment. | The main factors behind the revision were weaker personal and government consumption, and lower investment. |
The figure is significantly up on the 2.2% annualised rate of growth seen in the third quarter and is the strongest reported since the third quarter of 2003. | The figure is significantly up on the 2.2% annualised rate of growth seen in the third quarter and is the strongest reported since the third quarter of 2003. |
The Commerce Department said that the acceleration in inflation-adjusted growth or "real GDP" was chiefly due to a slowdown in the rate at which business drew down on its inventories. But there were other factors. | The Commerce Department said that the acceleration in inflation-adjusted growth or "real GDP" was chiefly due to a slowdown in the rate at which business drew down on its inventories. But there were other factors. |
"The pickup in real GDP also reflects rebounds in business investment in equipment and software and in net exports," the Commerce Department said. | "The pickup in real GDP also reflects rebounds in business investment in equipment and software and in net exports," the Commerce Department said. |