4thQ 2011 GDP misses estimates, 4thQ corporate profits fall, final entire 2011 GDP 1.7

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3/29/12, "US 4Q GDP Up 3.0% Unrevised, Misses Views," NASDAQ, Dow Jones Newswires

"Gross domestic product, the broadest measure of all the goods and services produced in an economy, grew at an inflation-adjusted annual rate of 1.7% during all of 2011, the Commerce Department said Thursday in its third and final estimate for the quarter. The 2011 figure, also unrevised, marked a slowdown from the 3.0% rate of expansion in 2010.

The quarterly gain, while the strongest gain since the second quarter of 2008, came in below expectations. Economists surveyed by Dow Jones Newswires had forecast fourth-quarter GDP would be revised up to a 3.2% growth rate.

Company profits, which had remained strong amid a sluggish recovery in the overall economy, fell on a quarterly basis. Corporate profits--after tax and unadjusted for inventories or capital consumption--declined at a 0.5% annual rate from the previous quarter."

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