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US Gross Domestic Product grew during third quarter of 2005

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Thursday, December 1, 2005

The US government released a preliminary report on the US economy today. The report, produced by the Bureau of Economic Analysis, states that the economy grew by 4.3 percent in the third quarter of 2005. In the second quarter of 2005, real GDP increased 3.3 percent.

The rise is attributed to increases in personal consumption (4.2 percent), equipment and software (10.8 percent), government spending, and residential fixed investment (8.4 percent). Imports, which deduct from the GDP, also increased. Exports, however, increased.

Government consumption expenditures increased 8.1 percent. National defense had an increase of 10.3 percent. Nondefense spending increased 3.6 percent.

Gross national product, which better reflects the economy in from the employee's perspective, increased 4.4 percent in the third quarter.

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  This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.

Got a correction? Add the template {{editprotected}} to the talk page along with your corrections, and it will be brought to the attention of the administrators.

Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.

Note that some listed sources or external links may no longer be available online due to age.
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