PaintSquare.com
      | Connect Follow us on Twitter Like us on Facebook
About | Subscribe | Advertise
  

 

Paint and Coatings Industry News

Main News Page


U.S. Economic Growth Surges in 4th Quarter

Friday, January 29, 2010

Comment | More

The U.S. economy expanded at a strong, 5.7% annual rate in the fourth quarter of 2009, the Commerce Department said in issuing a preliminary estimate on U.S. gross domestic product (GDP).

The “advance” estimate pegged economic growth in the quarter at the strongest pace since 2003, and significantly stronger than the 2.2% growth reported for the third quarter of last year. A follow-up estimate on fourth-quarter GDP is scheduled for release on Feb. 26.

Commerce’s Bureau of Economic Analysis said the increase in real GDP in the fourth quarter primarily reflected positive contributions from private inventory investment, exports, and personal consumption expenditures. Imports, which constitute a subtraction in the calculation of GDP, also increased.

The economic expansion for the last two quarters of 2009 apparently marked the end of the steep recession that resulted in economic contraction during the previous four quarters. Economic contraction for 2009 as a whole remained on the negative side of the ledger, however, as GDP fell 2.4%.

A key factor in the fourth-quarter growth was business spending on equipment and software, which rose a reported 13.3%. Also major contributors were consumer spending, which posted a 2% increase, and exports, which grew 18.1%. The growth in exports more than offset a 10.1% gain in imports.

The estimated figures indicate that gross private domestic investment in nonresidential structures expanded 2.9% in the quarter, following a 5.9% contraction in the fourth quarter. Private residential investment rose 5.7%, on the heels of an 18.9% expansion in the third quarter. Investment in both nonresidential and residential remained well below fourth-quarter 2008 levels, however.

Despite the acceleration in GDP, the nation’s persistent high unemployment rate is expected to restrain economic expansion during the rest of 2010. Current estimates suggest GDP expansion could remain below 3% for the year.

   

Tagged categories: Economy

Comment Join the Conversation:

Sign in to our community to add your comments.

Dow Polyurethane Systems
Choose the Right Coat

Dow’s high-performance, protective polyurethane spray elastomer system increases durability for steel and concrete applications.


DRYCO
Control the Tank with DRYCO

Temporary climate control equipment. Dehumidifiers,
Heaters, A/C, Power, More…
Toll Free: 866-379-2600


Armorthane
Corrosion Coatings for Protection and Repair

Buy POLYURETHANE or POLYUREA coatings and spray surfaces for years of proven chemical resistance, water- and weather-proofing, and structural improvements.


International Paint LLC

International Paint Engineered Coatings

Learn about our solutions for:
  • Structural Steel
  • Piping & Equipment
  • Storage Tanks
  • Pressure Vessels
  • Secondary Containment


    Chicago Corrosion Group
    Vendor-neutral corrosion consulting

    What you don’t know about painting is costing you a fortune. Call today to see how CCG’s vendor-neutral, owner’s advocacy saves our clients millions.


    Wasser High-Tech Coatings Inc.
    Wasser Coatings Protect

    Wasser Coatings offer a complete range of Moisture Cure Urethane (NEPCOAT approved) systems in addition to Polyurea membranes and linings(NSF).
    www.wassercoatings.com


    Elcometer, Inc.
    Durability & Design meet
    Performance & Reliability

    Elcometer 319 Dewpoint Meter
    View the technical data on the Elcometer Dewpoint meter.


    GMA Garnet USA
    GMA Garnet™
    Natural Abrasives

    - Superior cleaning
      performance
    - Even Profile
    - Low Dust
    - Cost-Effective
    - Environmentally friendly
    - Recyclable up to 5 times
    Tel : +1 832 243 9300


    HoldTight Solutions Inc.
    NO FLASH RUST -
    NO CONTAMINANTS

    Our HoldTight®102 salt remover & flash rush inhibitor prevents flash rust by removing surface contaminants.
    Contact us for your nearest distributor. (800) 319.8802 sales@holdtight.com

  •  
     
     
    Technology Publishing

    The Technology Publishing Network

    The Journal of Protective Coatings & Linings (JPCL) PaintSquare
    Durability + Design Paint BidTracker

     
    EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
    REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
    MORE:      About PaintSquare.com   |   Privacy policy   |   Terms & conditions   |   Site Map   |   Search   |   Contact Us
     

    © Copyright 2000-2015, Technology Publishing / PaintSquare, All rights reserved
    2100 Wharton Street, Suite 310, Pittsburgh PA 15203-1951; Tel 1-412-431-8300; Fax 1-412-431-5428; E-mail webmaster@paintsquare.com