74.4 F
Park Forest
Wednesday, June 29, 2022

Statement from Commerce Department Chief Economist Doms on Second Estimate of GDP for First Quarter

Washington, DC—(ENEWSPF)—May 26, 2011. The U.S. Commerce Department’s Bureau of Economic Analysis today released the second estimate of gross domestic product (GDP) for the first quarter of 2011. Real GDP grew 1.8 percent at an annual rate in the first quarter, unchanged from last month’s advance report and slightly below private-sector expectations of an upward revision. Corporate profits grew by $21.9 billion in the first quarter of 2011 to a level of $1,700.2 billion.

“Today’s report shows little change from the GDP estimates released last month,” said U.S. Commerce Department Chief Economist Mark Doms. “What today’s data does tell us is that corporate profits continue to grow and businesses continue to hire more workers. In the first four months of this year, the economy added 854,000 jobs, and that will help boost our economy further in the quarters ahead.”

Source: commerce.gov

Recent Articles

Stay Connected

3,810FansLike
1,269FollowersFollow
572SubscribersSubscribe

- Local Advertisements -

ENEWSPF NEWS ALERTS

Currently Trending

Park Forest
clear sky
74.4 ° F
78.4 °
70.8 °
72 %
1.3mph
0 %
Thu
84 °
Fri
82 °
Sat
81 °
Sun
85 °
Mon
74 °

About Google Ads

The Google-supplied ads that appear on this website are not reviewed ahead of time and differ for each visitor. If anything offensive, inappropriate, or otherwise unwholesome appears, please notify us so we can take steps to block that specific advertiser. Email the URL or advertiser name to [email protected].