Real gross domestic product – the output of goods and services produced by labor and property located in the U.S. – decreased at an annual rate of 6.2 percent in the fourth quarter of 2008, (from the third quarter to the fourth quarter), according to preliminary estimates released by the Bureau of Economic Analysis.
These GDP estimates 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 3.8 percent.
The decrease in real GDP in the fourth quarter primarily reflected negative contributions from exports, personal consumption expenditures, equipment and software, and residential fixed investment that were partly offset by a positive …
Fourth-Quarter GDP Fell 6.2% in Latest Estimates
Real gross domestic product – the output of goods and services produced by labor and property located in the U.S. – decreased at an annual rate of 6.2 percent in the fourth quarter of 2008, (from the third quarter to the fourth quarter), according to preliminary estimates released by the Bureau of Economic Analysis.
These GDP estimates 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 3.8 percent.
The decrease in real GDP in the fourth quarter primarily reflected negative contributions from exports, personal consumption expenditures, equipment and software, and residential fixed investment that were partly offset by a positive …
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