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Private inventory investment, nonresidential fixed investment, exports and federal government also contributed to higher output.
Expansion in the second quarter — faster than the annualized growth rate in the first quarter of 1.1 percent — was driven by gains in consumer spending, exports, private inventory investment, nonresidential fixed investment and residential fixed investment.
Here's a nice chart summarising the information, from Calculated Risk: Advance Second Estimate GDP 5.7% 5.9% PCE 2.0% 1.7% Residential Investment 5.7% 5.0% Structures -15.4% -13.9% Equipment & Software 13.3% 18.2%The upward revision was driven by a significant increase in the growth attributable to private inventory changes.
The gains were partially offset by a decrease in private inventory investment.
The revision, BEA said in a release, was due to a smaller decrease in private inventory investment than previously estimated.
VideoAmp also says it can help advertisers buy from both public and private inventory on desktop computers, smartphones, and tablets, and deliver real-time data on how their campaigns on doing.
Similar(53)
Energy department officials said that the reserve was too small to discourage private inventory-building.
A big change in private inventories also knocked 1.27 percentage points off growth.
Private inventories fluctuate with market conditions, but American commercial inventories alone include well over a billion barrels.
The spurt in fourth-quarter growth was driven by a surge in private inventories and an increase in exports.
The growth in the gross domestic product, the value of goods and services produced, was revised upward to reflect a rise in private inventories and external demand.
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