GDP shows 2.5 percent growth in Q1
Today, the聽聽(BEA) released their first聽聽showing that the economy grew in the quarter with real GDP improving at an annualized rate of 2.5% from Q4 2012.聽
On a year-over-year basis, real GDP increased 1.80% while the quarter-to-quarter non-annualized percent change was an increase of 0.62%.聽
The latest quarterly results indicate that the most notable source of weakness in the economy came from declines in聽government聽spending particularly on national defense with a 11.5% decline in federal national defense spending from Q4.聽
Residential investment, on the other hand, worked to buoy the overall fixed investment component growing at an annualized rate of 12.6% 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.
