1Q 2014 GDP and intangibles

BEA’s first estimate of GDP growth in the 1Q 2014 shows a marked slowdown in economic activity with a growth rate of only 0.1% compared with a growth rate of 2.6% in 4Q. Economists had been expecting a more modest 1.2% growth rate. Keep in mind, however, that this is an advanced estimate subject to revision as more data become available in the next two months.
Intellectual property products (IPP), i.e. research and development; entertainment, literary, and artistic originals; and software, grew by 1.5% compared with 4.0% in 4Q13. While the severe winter weather was a factor in the overall slowdown in economic activity, it is unclear how much the weather affected IPP activity.
IPP percent 1Q14 -1st.png

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