Economic Growth Tepid During the First Half of 2011
July 29, 2011    Disclosures    POSTED IN  Economy

The economy grew at annualized rate of 1.3% in the second quarter of 2011 and the growth rate in the first quarter of the year was revised down to 0.4% from 1.9%. In the second quarter of 2011 growth primarily came from gross private domestic investment, contributing 0.9%. Government consumption and gross investment detracted from GDP, -0.2%. This is the third consecutive quarter that government consumption and gross investment was a drag on GDP. This is partially due to the phasing out of the fiscal stimulus measures enacted in 2008 and 2009.

 The table below indicates if the contribution to GDP of each underlying component was better or worse than the first quarter of 2011.

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