US GDP weaker than expectations but higher than Flash estimate
Written May 29, 2009 at 8:34 AM EST by Greg Michalowski
The expectations was for a decline of -5.5%. It came in at -5.7% an a Q/Q annualized basis. This is the 3rd straight decline in US GDP but it is up from the -6.3% decline reported in the 4th quarter of 2008..
- Consumption fell from +2.2% to +1.5%. (contributed 1.08% vs +1.5% in last estimate)
- Private investment fell by -49..3 vs -51.8% previously reported (contributed -8.27% vs -8.83% in last estimate)
- Governement fel by -3.5% vs -3.9% earlier reported (+2.18% vs +1.99% in last estimate).
- Finally, Exports fell by a -28.7 vs -30% while imports decline remained unchanged at -34.1 contributed -0.71% vs -0.81% in last estimate).
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