Gross Domestic Product, 1st quarter 2009 (preliminary)
Corporate Profits, 1st quarter 2009 (preliminary)
Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- decreased at an annual rate of 5.7 percent in the first quarter of 2009, (that is, from the fourth quarter to the first quarter), according to preliminary estimates released by the Bureau of Economic Analysis. In the fourth quarter, real GDP decreased 6.3 percent.
The GDP estimates released today are based on more complete source data than were available for the advance estimates issued last month. In the advance estimates, the decrease in real GDP was 6.1 percent (see "Revisions" on page 3).
Full report here.
Drilling down in this report, we see this line;
Gross domestic purchases
Real gross domestic purchases -- purchases by U.S. residents of goods and services wherever produced -- decreased 7.5 percent in the first quarter, compared with a decrease of 5.9 percent in the fourth.
Green shoots huh?
Friday, May 29, 2009
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