Gross domestic product, corporate profits slow down
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Manufacturing News, Source : TheManufacturer.com
Published : 25 Mar 2004 18:43
Real gross domestic product—the output of goods and services produced in the United States—increased at an annual rate of 4.1 percent in the fourth quarter of 2003, a slower rate than the previous quarter, according to revised estimates released by the US Department of Commerce’s Bureau of Economic Analysis.
In the previous third quarter, real GDP increased 8.2 percent. The deceleration was caused in part by a decrease in personal spending as well as an increase in imports. Computer and motor vehicle sales contributed to the 4.1 percent increase last quarter.
In the same report, the Commerce Department announced that corporate profits for the full year in 2003 rose 19.2 percent, down from a 24.6 percent increase in 2002.
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