PaintSquare.com


The First Word in Protective & Marine Coatings

A Product of Technology Publishing / PaintSquare
JPCL | PaintSquare News | Durability + Design | Paint BidTracker

Register Now for D+D 2014

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.

US Minerals
US Minerals -
Black Magnum

With nationwide production and distribution capabilities, U.S. Minerals supplies a complete range of coal slag and other abrasives to meet all of your blasting needs.


DeHumidification Technologies
HUMIDITY PROBLEMS?

DH Tech has the most innovative and reliable equipment available to
control humidity efficiently
and effectively.
IT'S UNDER CONTROL!


Sherwin-Williams

Sherwin-Williams
Our 3,500 locations give you a level of service that is simply unmatched.


CESCO
PRESSURE WASHERS

• 10,000 PSI
• Electric or diesel models
• Buy or rent from CESCO
• Lease Financing Available
CESCO is your One Stop
Corrosion
Shop
Contact us: 888-772-3726
BlastandPaint.com


Rapid Prep, LLC
Nation Wide Equipment Rentals

Rapid Prep, LLC is a full service provider of sandblasting & all other surface preparation equipment, with 60 years of experience within the industrial painting industry.


Axxiom Manufacturing
Schmidt Introduces
the New miniBRS

Reduced in size, it is incredibly easy to maneuver and operate! The perfect alternative to larger blast & recovery units when project space is limited.
Call 1-800-231-2085


Blastox/The TDJ Group, Inc.
Blastox - One Step
Lead Abatement

Don't waste $$ on added labor steps with other methods. Don't mix, meter or apply at the job-site. Avoid strict hazardous waste rules.
Let your painters paint!

 
 
 
Technology Publishing

The Technology Publishing Network

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

 
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 2000-2014, 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