Profile of the economy

From: Treasury Bulletin | Date: June 1, 2000| Author: | Copyright information

[Source: Office of Macroeconomic Analysis]

Real gross domestic product (GDP)

In the first quarter of 2000, real GDP increased at a 5.4 percent annual rate. This was below the outsized 7.3 percent increase in the fourth quarter of 1999, but it exceeded the average quarterly gain of 4.4 percent during the last 4 years. The slowdown reflected deterioration in net exports as well as a fallback in inventory investment and in Federal spending. The latter two categories grew very rapidly in the fourth quarter of 1999 in anticipation of possible disruptions relating to the Year 2000 (Y2K) bug.

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