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GDP Shrinks 6.3% in Q4, Q1 Outlook Not So Good
The U.S. economy contracted at a 6.3% annualized rate in the fourth quarter of 2008 – the sharpest decline in gross domestic product (GDP) in more than two decades, but still better than many analysts had expected.
The Bureau of Economic Analysis said last month that fourth-quarter GDP contracted at a 6.2% annual rate. Today’s (Thursday) revision, while negative, was smaller than the 6.7% decline forecast by economists surveyed by MarketWatch.
The most notable revision came from inventories, where the small increase in stockpiles originally reported was adjusted to show a small decline.
“The real change in private inventories subtracted 0.11 percentage…
27Mar2009 | Money Morning | 0 comments | Continued
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