Transport Topics Online  
The Newspaper of Trucking and Freight Transportation
Welcome  Guest  Log In         
2/28/2013 11:45:00 AM Write a Letter to the Editor Write a letter to the Editor

GDP Revised to a Small Increase From Previously Negative Estimate

The U.S. economy grew at a 0.1% annual rate in the fourth quarter, turning around a previously reported negative reading, the Commerce Department said Thursday.

The gross domestic product rate, revised up from a previously estimated 0.1% drop, was below analysts’ median 0.5% projection, Bloomberg News reported.

GDP measures the value of all goods and services produced.

Thursday’s figure was the second of three for the quarter. The reading followed a third-quarter growth rate of 3.1%.

For all of 2012, the economy expanded 2.2% after a 1.8% increase in the previous year, Commerce reported.

Consumer spending, which makes up about 70% of the economy, rose 2.1%, from a previously reported 2.2% annual rate, and following a 1.6% gain in the third quarter.

By Transport Topics

Follow Transport Topics on Subscribe to get up to the minute news briefs and more from our feeds. RSS Twitter Twitter Facebook Facebook

© 2013, Transport Topics, American Trucking Associations Inc.
Reproduction, redistribution, display or rebroadcast by any means without written permission is prohibited.



Follow Us


This free daily newsletter delivers the latest headlines.

TT Executive Suite
This subscriber-only newsletter program tailors your news.



© American Trucking Associations, Inc., All Rights Reserved Privacy Statement