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GDP Growth Slows to 2.2% in Q1

April 27 2012

U.S. real gross domestic product rose at an annual rate of 2.2 percent in the first quarter of 2012, according to the advance estimate released today by the U.S. Bureau of Economic Analysis. That’s slower than the 3.0 percent in the fourth quarter.

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

The growth rate announced today is less than expected for some economists, but in-line with other estimates. Bloomberg reported the median forecast of economists it surveyed had expected growth of 2.5 percent. However, the increase was in-line with 2.2 percent forecasted by the Philadelphia Federal Reserve’s Survey of Professional Forecasters released in February.

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