JAKARTA: US Department of Commerce on Wednesday forecasts gross national product to increase at an annual rate of 2.6% in the third quarter of 2010, compared to the second quarter. In the second quarter, real GDP increased 1.7%.Bureau of Economic Analysis (BEA) of Department of Commerce at its website stated that the third estimate was based on more complete source data than were available for the "second" estimate issued last month. In the second estimate, the increase in real GDP was 2.5%.BEA said that the increase in real GDP in the third quarter mainly showed good contributions from personal consumption expenditures, private inventory investment, nonresidential fixed investment, exports, and federal government spending but they were partly offset by bad figures from residential fixed investment.The bureau also revealed that imports, which are a subtraction in the calculation of GDP, surged.While real GDP in the third quarter showed acceleration, there was a sharp deceleration in imports and acceleration in private inventory investment that were partly offset by a downturn in residential fixed investment and decelerations in nonresidential fixed investment and in exports.Motor vehicle output added 0.49 percentage point to the third-quarter change in real GDP after subtracting 0.06 percentage point from the second-quarter change. Final sales of computers added 0.29 percentage point to the third-quarter change in real GDP after adding 0.03 percentage point to the second-quarter change. (T04/NOM)
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