4th Quarter GDP

The first look at how the economy did in the 4th quarter of 2013 (and for the full year) is out. According to BEA, GDP grew by 3.2% – generally in line with economists’ expectations. GDP had grown by 4.1% in the 3rd quarter of 2013. For the year, real GDP grew by 1.9% due to slow growth in the beginning of 2013. GDP had increased 2.8% in 2012.
The 4Q growth came from consumer spending, exports, business investment and increases in inventories. Residential construction, however, declined by 9.8% in the 4th quarter after rising by 10.3% in 3rd quarter.
Investments in intellectual property products (i.e. research and development; entertainment, literary, and artistic originals; and software) increased by a healthy 3.2% after growing by an impressive 5.8% in the 3rd quarter. Investments in software and R&D increased while investment in entertainment, literary, and artistic originals showed no growth.
IPP percent 4Q13 -1st.png

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s