GDP grew by 2%
Real gross domestic product increased at an annual rate of 2.0 percent in the third quarter of 2012.
Although third-quarter GDP beat expectations, growth is still well below the annual pace of 3% or better that economists consider necessary to create a strong economy and lower the unemployment rate.
In the second quarter, real GDP increased 1.3 percent.
The increase in real GDP in the third quarter primarily reflected positive contributions from
personal consumption expenditures (PCE), federal government spending, and residential fixed investment that were partly offset by negative contributions from exports, nonresidential fixed investment, and private inventory investment. Imports, which are a subtraction in the calculation of GDP, decreased.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
