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US GDP
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Last Friday the US Department of Commerce published a report saying that the GDP rose by 2.2% on a quarterly basis from January to March.


The reading fell short of the forecast implying an increase in the GDP by 2.5%. On a yearly basis, in the first quarter 2012 the US GDP grew by 3%.


Meanwhile, the indicator for personal consumption spendings which constitutes about 70% of the US GDP, increased from 2.1%


to 2.9% during the reporting period. The indicator had been estimated to swell by 2.3%, however.


A weaker-than-expected increase in the GDP is said to be caused by reduced government spending, scarce investment in companies and production, as well as by a slower growth of inventories.


In the 4th quarter of 2011, the US GDP advanced by 3%. This was the highest GDP reading for more than a year. All in all, in 2011 the economy of the USA expanded by 1.7%.

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