13:30 - Dados States
Enviado: 25/6/2004 13:328:30am 06/25/04 U.S. Q1 GDP UP 3.9% VS. 4.4% PREV. EST.
8:30am 06/25/04 U.S. Q1 GDP UP 3.9% BELOW EXPECTATIONS
8:30am 06/25/04 U.S. Q1 PCE CORE PRICE INDEX UP 2.0% VS 1.7% PREV EST
U.S. Q1 GDP revised lower to 3.9% growth rate
WASHINGTON (CBS.MW) - The U.S. economy grew at an annual rate of 3.9 percent in the first quarter, much slower than the 4.4 percent growth rate previously estimated, the Commerce Department said Friday.
The downward revision to GDP was unexpected. Economists had forecast that GDP would be unrevised at a 4.4 percent growth rate.
Based on the revision, the economy slowed down a bit from the fourth quarter.
GDP increased 4.1 percent in the fourth quarter following an 8.2 percent growth rate in the third quarter.
The slower growth in the first quarter reflected weaker exports and a sharp decline in spending on equipment and software.
Inflation was revised higher in the first quarter.
The closely watched personal consumption expenditure price index rose at a 3.2 percent annualized rate in the quarter, up from the 3.0 percent previously estimated.
The core rate, excluding food and energy, rose at a 2.0 percent rate, instead of 1.7 percent previously.
This is the fastest pace since the third quarter of 2002.
8:30am 06/25/04 U.S. Q1 GDP UP 3.9% BELOW EXPECTATIONS
8:30am 06/25/04 U.S. Q1 PCE CORE PRICE INDEX UP 2.0% VS 1.7% PREV EST
U.S. Q1 GDP revised lower to 3.9% growth rate
WASHINGTON (CBS.MW) - The U.S. economy grew at an annual rate of 3.9 percent in the first quarter, much slower than the 4.4 percent growth rate previously estimated, the Commerce Department said Friday.
The downward revision to GDP was unexpected. Economists had forecast that GDP would be unrevised at a 4.4 percent growth rate.
Based on the revision, the economy slowed down a bit from the fourth quarter.
GDP increased 4.1 percent in the fourth quarter following an 8.2 percent growth rate in the third quarter.
The slower growth in the first quarter reflected weaker exports and a sharp decline in spending on equipment and software.
Inflation was revised higher in the first quarter.
The closely watched personal consumption expenditure price index rose at a 3.2 percent annualized rate in the quarter, up from the 3.0 percent previously estimated.
The core rate, excluding food and energy, rose at a 2.0 percent rate, instead of 1.7 percent previously.
This is the fastest pace since the third quarter of 2002.