US Gross Domestic Product (GDP) increased at an annual rate of 1.9% in Q1 2011, marginally up from a previous estimate of 1.8%.
Delivering the third and final estimate for the first quarter, the US Department of Commerce's Bureau of Economic Analysis also said real GDP in Q4 2010 increased by 3.1%. The marginal increase in Q1 mainly reflected positive contributions from personal consumption expenditures, private inventory investment, exports, and non-residential fixed investment. On the downside negative contributions from federal government spending weighed on growth. Earlier this week, the Federal Reserve released its latest economic projections for 2011, lowering the forecast for economic growth to betwe...
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