Friday, June 25, 2010

GDP Numbers Revised Downward

"Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 2.7 percent in the first quarter of 2010, (that is, from the fourth quarter to the first quarter), according to the "third" estimate released by the Bureau of Economic Analysis. In the fourth quarter of 2009, real GDP increased 5.6 percent."
The 2.7% is a .3% revision downward from the "second" estimate and a .5% downward revision from the "advance" estimate.   

1 comment:

  1. You cannot believe the GDP numbers because they change quarter to quarter.