Intangibles and 3Q2013 GDP

Good economic news. This morning advance estimate of GDP for 3rd quarter 2013 from BEA show a healthy 2.8% growth rate. Economists had expected a slowdown from last quarter with only a 2% growth rate (due to the government shutdown). Investments in intellectual property products (i.e. research and development; entertainment, literary, and artistic originals; and software) also showed a healthy growth of 2.2% compared with a decline of 1.5% in the 2nd quarter. As intangible assets are the building blocks for economic growth, this turnaround bodes well. Now, we have to work on measures of more types of intangible assets – such as investments in upgrading worker skills or organizational development.
IPP percent 3Q13.png

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