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May 29, 2008

Economy Grew 0.9% in First Quarter

The second but still not final revision to the 1st Q GDP number is in, and it's not exactly helpful to the media's drumbeat for recession. 0.9% isn't good -- 1.6% or so seems to be the minimum level for decent if not stellar expansion -- but it's a hell of a way off from a contraction.

The federal government said the economy grew 0.9% in the first quarter in its second estimate of gross domestic product, a slight increase from its first read and in line with expectations.
The growth outpaced the 0.6% the Bureau of Economic Analysis reported last month in its advance estimate. Economists had forecast 0.9% growth.

Chris Matthews' leg declined comment on this story.

Thanks to dri.

posted by Ace at 12:30 PM

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The federal government said the economy grew 0.9% in the first quarter in its second estimate of gross domestic product, a slight increase from its first read and in line with expectations. The growth outpaced the 0.6% the Bureau of Economic Analysis reported last month in its advance estimate. Economists had forecast 0.9% growth. Chris Matthews' leg declined comment on this story. 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