Economic indicators released Thursday show the U.S. economy slowed significantly between the fourth quarter of 2011 and the first quarter of this year, while weekly jobless claims remain well above 300,000.

Weekly unemployment claims fell by 6,000 filings to 386,000 claims for the week ending June 23. A week earlier claims hit 392,000 filings.

Real gross domestic product – a measure of the output of all goods and services – increased at an annual rate of 1.9% in the first quarter of 2012, based on the third estimate released by the Commerce Department. That is down from 3% GDP growth in the fourth quarter.

The government said “the increase in real GDP in the first quarter reflected positive contributions from personal consumption expenditures, exports, residential fixed investment, nonresidential fixed investment and private inventory investment.”

The Commerce Department blames the deceleration in real GDP in the first quarter to declines in private inventory and in nonresidential fixed investments.

kpanchuk@housingwire.com

Most Popular Articles

FHA loan limits increasing for almost all of U.S. in 2020

Thanks to increases in home prices in 2019, the Federal Housing Administration loan limit will increase for nearly all of the country in 2020.

Dec 05, 2019 By

Latest Articles

HousingWire is growing. Come join us

2019 has been a year of tremendous audience and product growth for HousingWire and we couldn’t be prouder. But we’re not ready to rest on our laurels. Far from it. In fact, 2020 promises to be an even bigger year for HousingWire.

Dec 06, 2019 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please