U.S GDP in the 1st quarter of 2009


The U.S. GDP in the I quarter of 2009 decreased by 5.5 per cent according to the final data. The data was presented on Thursday, June 25, by the U.S. Department of Commerce. Analysts expected that the decline in GDP would be about 5.7 per cent. That was the number that previously was reported.
The fall in U.S. GDP was 6.3 per cent in the IV quarter of 2008 .
Growth of GDP deflator was confirmed at 2.8 per cent, and turnover rates were revised downward: in the final data, export fell by 30.6 per cent (previous data was by 28.7 per cent) and import went down by 36,4 per cent (previously a decline of 34.1 per cent was reported). The decline of export was the biggest one since 1969. And the decline of imports – since 1937.
The base price index PCE (not taking into account the costs for energy and food) rose by 1.6 per cent according to the final data. Data on the growth of consumer spending slightly adjusted downward in the I quarter of this year – to 1.4 per cent instead of the previously announced 1.5 per cent.
Business investment declined by 37.3 per cent, investment in real estate went down by 38.8 per cent.