FOR IMMEDIATE RELEASE
Friday, January 27, 2012
CONTACT OFFICE OF PUBLIC AFFAIRS
The U.S. Commerce Department’s Bureau of Economic Analysis today released the advance estimate of gross domestic product (GDP) for the fourth quarter of 2011. Real GDP rose 2.8 percent at an annual rate, up from 1.8 percent in the third quarter. Real GDP for 2011 overall grew 1.7 percent. The increase in real GDP reflected growth across several key economic sectors. Real exports of goods and services increased 4.7 percent in the fourth quarter, the same increase as in the third.
“Today’s report is another indication that our economy is moving in the right direction and we are gaining strength,” U.S. Commerce Secretary John Bryson said, noting advances in exports and personal consumption. “But we cannot afford to give up the gains we have made. Our work is far from over and we must remain focused on the elements of an economy that is built to last–American manufacturing, American energy and education and training for American workers.”
Corrected version, January 27, 11:15 a.m.