Economic Indicators, March 2012

The second release of GDP data for Q4 2011 left unchanged the initial estimate of a 0.2% contraction in the economy compared with the previous quarter. Contributing to the decline were sharp falls in investment and in inventories held by companies. On a more positive note, consumer spending rose for the first time since Q2 2010, while there was also a strong rise in exports. Indicators point to a return to growth in Q1 2012.