Real gross domestic product – the output of goods and services produced by labor and property in the U.S. – decreased at an annual rate of 6.3 percent in the fourth quarter of 2008, (from the third quarter to the fourth quarter), according to final estimates released by the Bureau of Economic Analysis. In the third quarter, real GDP decreased 0.5 percent.
These GDP estimates are based on more complete source data than were available for the preliminary estimates issued last month. In the preliminary estimates, the decrease in real GDP was 6.2 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 …
GDP Shrinks 6.3% in Fourth Quarter 2008
Real gross domestic product – the output of goods and services produced by labor and property in the U.S. – decreased at an annual rate of 6.3 percent in the fourth quarter of 2008, (from the third quarter to the fourth quarter), according to final estimates released by the Bureau of Economic Analysis. In the third quarter, real GDP decreased 0.5 percent.
These GDP estimates are based on more complete source data than were available for the preliminary estimates issued last month. In the preliminary estimates, the decrease in real GDP was 6.2 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 …
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