GDP increased in 3Q
Real gross domestic product increased at an annual rate of 3.1 percent in the third quarter of 2012.
GDP is defined as the output of goods and services produced by labor and property located in the United States.
The Bureau of Economic Analysis said the increase primarily reflected positive contributions from PCE, private inventory investment, federal government spending, residential fixed investment, and exports that were partly offset by a negative contribution from nonresidential fixed 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.
