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New Estimate Indicates Real U.S. GDP Grew Faster in Q3 2010

Economics / US Economy Nov 24, 2010 - 09:14 AM GMT

By: Asha_Bangalore

Economics

Best Financial Markets Analysis ArticleReal GDP of the U.S. economy grew at an annual rate of 2.5% in the third quarter, which is higher than the advance estimate of a 2.0% increase.  Upward revisions of consumer spending, equipment and software spending, exports, government spending, and smaller decline in residential investment expenditures more than offset the decline in structural investment expenditures, previously reported to have added to GDP, to result in a higher rate of growth. 


Corporate profits in the third quarter of 2010 grew 27%froma year ago, with domestic industries contributing a large part of the increase vs. gains from rest of the world.  Going forward, the economy is predicted to grow around a similar pace in the fourth quarter of 2010. 


 
Asha Bangalore — Senior Vice President and Economist

http://www.northerntrust.com
Asha Bangalore is Vice President and Economist at The Northern Trust Company, Chicago. Prior to joining the bank in 1994, she was Consultant to savings and loan institutions and commercial banks at Financial & Economic Strategies Corporation, Chicago.

Copyright © 2010 Asha Bangalore

The opinions expressed herein are those of the author and do not necessarily represent the views of The Northern Trust Company. The Northern Trust Company does not warrant the accuracy or completeness of information contained herein, such information is subject to change and is not intended to influence your investment decisions.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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