Gross domestic product numbers up
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Manufacturing News, Source : TheManufacturer.com
Published : 29 Oct 2004 17:10
Real gross domestic product—the output of goods and services produced by labor and property located in the United States—increased at an annual rate of 3.7 percent in the third quarter of 2004, according to advance estimates released by the US Bureau of Economic Analysis.
The numbers are up from the second quarter, when real GDP increased 3.3 percent.
The major contributors to the increase in real GDP in the third quarter were personal consumption expenditures, equipment and software, and exports. Sales of computers contributed 0.06 percentage point to the third-quarter change. Motor vehicle output contributed 0.33 percentage point.
Real gross domestic purchases—purchases by US residents of goods and services wherever produced—increased 4.1 percent in the third quarter, compared with an increase of 4.2 percent in the second.
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