Friday, July 31, 2009

Q2 GDP Breakdown

For all Google users looking for Q3 GDP data... go here.

I must admit... nailed it (sometimes being lucky is better than being good). Marketwatch reports:

The U.S. economy contracted at a much smaller rate than in the past six months, the Commerce Department reported Friday. Real gross domestic product fell at a 1.0% annualized rate in the second quarter, compared with an average 5.9% drop over the past two quarters. However, this is the fourth straight quarter with a contraction in GDP. This has never happened before since records began in 1947.

The big story for the second quarter was in the much smaller decrease in business investment, exports and inventories. There was also an upturn in federal and state government spending. The government also released comprehensive benchmark revisions to GDP data, but they did little to change the basic story of the economy.

QoQ Data

Historical (puts recent events in perspective)

Source: BEA