The bureau of economic analysis published yesterday its second estimate of the growth rate of the U.S. Gross Domestic Product during the fourth quarter of 2011. The report showed the US GDP rose by 3% in Q4 2011.
According to the recent update, the growth rate of the real U.S GDP 2011 in the fourth quarter of 2011 was revised up from the first estimate: the GDP was revised from 2.8% growth rate to 3.0% growth; during the previous quarter (Q3 2011) the real U.S GDP expanded by only 1.8%; thus the growth rate in the Q4 2011 was much higher than in the previous quarter and was also the best performing quarter in 2011.
There were expectations for an increase in the GDP growth rate of the last quarter of 2011; this figure should signal that the U.S. economy is slowly and steadily recovering from its recent years’ slump.
The chart below shows the development of the real U.S. GDP (Q-2Q) growth rate during recent years. It shows the steady rise in the GDP growth rate during 2011.
Yesterday, the American stock markets finished in the red, perhaps due to the recent testimony of Bernanke, while major energy commodities prices including crude oil prices moderately rose; gold and silver prices plummeted; the US dollar sharply appreciated mainly against major currencies including Euro, Yen and Canadian dollar.
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