GDP Is Down To 2.2% But Still Positive

Chart Source: Barron Econday

The GDP in the third quarter declined from 2.8% to 2.2%. Indicating a slower than anticipated U.S economic expansion. Despite the current decline, consumer confidence has gained traction and with companies having lower inventories that could accelerate the growth for 2010. Additional contributing factors are private investments, government spending, and an increase in exports.

Release by the Bureau of Economic Analysis:

“Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of 2.2 percent in the third quarter of 2009, (that is, from the second quarter to the third quarter), according to the “third” estimate released by the Bureau of Economic Analysis.  In the second quarter, real GDP decreased 0.7 percent.”

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This entry was posted on December 22, 2009 at December 22, 2009 and is filed under U.S Market. You can follow any responses to this entry through the RSS 2.0 feed.