1Q 2015 GDP and investment in intangibles

Some bad news this morning from BEA’s advanced estimate of U.S. 1st quarter GDP. According to this first estimate, GDP grew by only 0.2% in 1Q 2015. The growth in business investment in intellectual property products (IPP) remained at a high level at a 7.8% increase with a positive trendline (see chart). Software investment picked up a little with a 5.8%. R&D slipped somewhat to a still strong level of 12.3%. Investment in entertainment, literary, and artistic originals actually declined by 1.2%. Of course, this is only the advanced estimate, subject to considerable revision.
GDP-IPP 1Q15 - 1st.png

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