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Feds Lower First-Quarter GDP Estimate

May 31 2012

U.S. real gross domestic product rose at an annual rate of 1.9 percent in the first quarter of 2012, according to the second estimate released today by the U.S. Bureau of Economic Analysis. The second estimate lowers the previously released advance estimate of 2.2 percent growth.

Growth in the staffing industry is strongly correlated with GDP growth, according to research from Staffing Industry Analysts.

The growth rate announced today is below others’ estimates. Bloomberg reported the median forecast of economists it surveyed had expected growth of 2.2 percent.

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