GDP up slightly
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Manufacturing News, Source : The Manufacturer US
Published : 30 Jan 2003 19:01
Preliminary figures released by the Department of Commerce today indicate that gross domestic product increased 0.7% in the fourth quarter of 2002.
Major contributors to the increase included government spending, personal consumption, residential investment, and equipment and software. These were offset by negative contributions from nonresidential structures, private inventory investment, and exports. Imports increased during the quarter. This was the fifth consecutive quarter in which the economy expanded, but the fourth quarter was the weakest of the year.
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