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New GDP estimate slightly lower

May 30 2013

U.S. real gross domestic product increased at an annual rate of 2.4 percent in the first quarter of 2013, 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 2.5 percent growth.

In the fourth quarter, real GDP increased 0.4 percent.

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

Reuters reported that although the current rate is much faster than the prior quarter’s pace, it is likely still too weak to fuel faster improvements in the labor market. To read the Reuters article, click here.

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