BEA: US economy grew 0.1 percent in Q4
Today, the聽聽(BEA) released their second聽聽showing that the economy聽barely registered growth in Q4 2012聽with real GDP improving at an annualized rate of just 0.1% from Q3 2012.聽
On a year-over-year basis, real GDP increased 1.61% while the quarter-to-quarter non-annualized percent change was an increase of a slight 0.03%.聽
The latest quarterly results indicate that the most notable source of weakness in the economy came from declines in exports with the "net-exports" component declining at an annualized rate of 3.9% from Q3, and notable declines in聽government聽spending particularly on national defense with a 22.0% decline in federal national defense spending from Q3.聽
Residential investment, on the other hand, worked to buoy the overall fixed investment component growing at an annualized rate of 17.5% from Q3.聽
Keep in mind that these results are likely very poorly estimated and are sure to be revised notably in following quarters and even years to come.
