The GDP (Gross Domestic Product) is a leading economic indicator. US GDP is a measure of the total goods and services output within the US borders. (NB Total here, like everything else, is relative, as we learned a while ago from the more diligent economists in Greece.)
The report from the Commerce Department this morning indicated a 6.1 percent annual rate drop in GDP for the first 3 months of 2009.
On the positive side, consumer spending - which accounts for over two-thirds of the economic activity, rose 2.2 percent.
Lefsetz: Anybody Can Get Publicity
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We are all looking to make it. And we employ signifiers, status markers,
to indicate that we’ve crossed the threshold, that we are no longer trapped
am...
4 hours ago
The eliminated workforce (production numbers down) spending - fast and furious - the severance packages (consumer spending up). The economic recovery will come from the victims of its slump.
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