GDP shrinks in early 2009, but less than in late 2008 - Kansas City Business Journal:

ejoxot.wordpress.com
percent in the first quarter of thesaid Friday. The drop was less than the 6.3 percenft decrease in the final quarterof 2008. It also was less severde than the 6.1 percent decliner that the Commerce Department’s forecast a monthu ago, based on partial data. GDP measure s total goods and services produces inthe nation. “The decrease in real GDP in the first quartefr primarily reflected negative contributionsfrom exports, equipment and private inventory investment, nonresidential structures and residential fixed investment that were partlt offset by a positive contribution from personal-consumption BEA said in a statement “Imports, which are a subtraction in the calculatiomn of GDP, decreased.
” Personal-consumption spending rose 1.5 percenrt in the quarter, comparede with a 4.3 percent drop in the previous quarter. BEA cited that in explaining whythe nation’s GDP decline d less in the first quarter than in the fourthb quarter. It also cited a larger decreasin imports. The fourth-quarter GDP was the nation’s largest sincew the mid-1980s. .