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.
Money, Fear, and the Stories We Tell About the Economy
-
I joined Dave Pederson on his new “Bigfoot” podcast to talk about a few
Market Myths. You may recognize his name. He is an award-winning
documentary ...
2 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.
ReplyDelete