Monday, April 23, 2012

Auto Recovery At Hand - as Growth Drivers Shift: Economy

Auto Recovery At Hand - as Growth Drivers Shift: Economy
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Household spending led by durable goods like automobiles, as well as gains in homebuilding, may account for more than half of the first-quarter advance in gross domestic product, according to Carson. Those two areas contributed 1.7 percentage points to the 3 percent gain in gross domestic product at an annual rate in the fourth quarter and probably made a similar contribution in the past three months, he said.
That marks a shift from the period following the recession. Exports and business investment accounted for about 70 percent of the 2.4 percent growth seen in the first nine quarters of the recovery, compared with a historical contribution of about 20 percent in rebounds spanning the past five decades, according to Carson, who worked as an economist at the Commerce Department."

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