GDP Posted Modest Gain Last Quarter
Date: 7/30/2010
The U.S. gross domestic product posted a 2.4 percent gain in the second quarter of 2010, indicating that economic growth has slowed in recent months.

In the first quarter of the year, the economy posted a healthier 3.7 percent gain in the gross domestic product. One concern raised in the latest figures is that the economy may be growing, but not at a pace that will fuel enough job creation to help the recovery fully emerge.

According to the Bureau of Economic Analysis, the gains in the gross domestic product were fueled largely by gains in nonresidential fixed investment, exports, personal consumption expenditures and federal government spending, among other things.

Areas that held back further growth in the GDP last quarter were reported to include import activity and a lower rate of private inventory investment. Other economic indicators have further helped cement the perception that the recovery has either stalled or slowed.

In late morning stock trading on Friday, investors were clearly mulling the latest implications for the economy. The Dow Jones Industrial Average was largely hovering close to unchanged territory in light of the GDP data.