Consumption, which has been the main driver of growth throughout the recovery, contributed slightly less in Q4 than previously reported. The categories housing and utilities, gasoline and other energy goods, and clothing and footwear all experienced absolute declines. These figures refer to real expenditures, so they reflect more than just the recent decreases in energy prices. The news is perhaps good for environmentalists, who will be glad to see a continuation of the gradual trend toward lower energy-intensity of GDP. It is not so good for anyone who hopes for consumer-led growth to reduce the stubbornly high unemployment rate. >>>Read more
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Today’s
second estimate of U.S. GDP for the fourth quarter of 2012 showed
growth moving from the -0.1 percent of the preliminary estimate to +0.1.
Positive is better than negative, but a look at the details shows that
the recovery is extremely weak. The following table shows how much each
of the economy’s main sectors contributed to GDP growth in Q4.
Consumption, which has been the main driver of growth throughout the recovery, contributed slightly less in Q4 than previously reported. The categories housing and utilities, gasoline and other energy goods, and clothing and footwear all experienced absolute declines. These figures refer to real expenditures, so they reflect more than just the recent decreases in energy prices. The news is perhaps good for environmentalists, who will be glad to see a continuation of the gradual trend toward lower energy-intensity of GDP. It is not so good for anyone who hopes for consumer-led growth to reduce the stubbornly high unemployment rate.
- See more at: http://www.economonitor.com/dolanecon/2013/02/28/q4-gdp-moves-from-negative-to-positive-but-details-show-recovery-still-on-life-support/#sthash.n7KleCy2.dpuf
Consumption, which has been the main driver of growth throughout the recovery, contributed slightly less in Q4 than previously reported. The categories housing and utilities, gasoline and other energy goods, and clothing and footwear all experienced absolute declines. These figures refer to real expenditures, so they reflect more than just the recent decreases in energy prices. The news is perhaps good for environmentalists, who will be glad to see a continuation of the gradual trend toward lower energy-intensity of GDP. It is not so good for anyone who hopes for consumer-led growth to reduce the stubbornly high unemployment rate.
- See more at: http://www.economonitor.com/dolanecon/2013/02/28/q4-gdp-moves-from-negative-to-positive-but-details-show-recovery-still-on-life-support/#sthash.n7KleCy2.dpuf
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