Gross domestic product shrinks 3.8%
{ Posted on Jan 30 2009 by Mark Fightmaster }
Filed under: Before the bell, Economic data, Recession
The Gross Domestic Product (GDP) data is in, showing that the U.S. economy contracted 3.8% on an annualized rate in the fourth quarter. The data was better than the 5.5% most economists on average had expected. Nevertheless, some believe that the report will lead to bearish feelings on the Street (although futures are higher at last check).The report shed light on exactly how weak the fourth quarter was, as it excluded the inventory build, which contracted by 5.1%. Even including the inventories, the growth rate is the worst since 1982. Looking at the impact on the current quarter, some believe that it will result in an aggressive cut in output.
Continue reading Gross domestic product shrinks 3.8%
Gross domestic product shrinks 3.8% originally appeared on BloggingStocks on Fri, 30 Jan 2009 09:22:00 EST. Please see our terms for use of feeds.
Permalink | Email this | Comments
Unique in the industry, Macroaxis financial engineering platform delivers measurable value in the form of improved return on your investment portfolios | 
