Friday, February 27, 2009
[IWS] BEA: GROSS DOMESTIC PRODUCT: 4th Qtr. 2008 (PRELIMINARY) [27 February 2009]
IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
GROSS DOMESTIC PRODUCT: FOURTH QUARTER 2008 (PRELIMINARY) [27 February 2009]
http://www.bea.gov/newsreleases/national/gdp/2009/gdp408p.htm
or
http://www.bea.gov/newsreleases/national/gdp/2009/pdf/gdp408p.pdf
[full-text, 13 pages]
or
http://www.bea.gov/newsreleases/national/gdp/2009/xls/gdp408p.xls
[spreadsheet]
and
Highlights
http://www.bea.gov/newsreleases/national/gdp/2009/pdf/gdp408p_fax.pdf
Real gross domestic product -- the output of goods and services produced by labor and property
located in the United States -- decreased at an annual rate of 6.2 percent in the fourth quarter of 2008,
(that is, from the third quarter to the fourth quarter), according to preliminary estimates released by the
Bureau of Economic Analysis. In the third quarter, real GDP decreased 0.5 percent.
The GDP estimates released today are based on more complete source data than were available for
the advance estimates issued last month. In the advance estimates, the decrease in real GDP was 3.8
percent (see "Revisions" on page 3).
The decrease in real GDP in the fourth quarter primarily reflected negative contributions from
exports, personal consumption expenditures, equipment and software, and residential fixed investment
that were partly offset by a positive contribution from federal government spending. Imports, which are
a subtraction in the calculation of GDP, decreased.
Most of the major components contributed to the much larger decrease in real GDP in the fourth
quarter than in the third. The largest contributors were a downturn in exports and a much larger
decrease in equipment and software. The most notable offset was a much larger decrease in imports.
Final sales of computers subtracted 0.01 percentage point from the fourth-quarter change in real
GDP, the same contribution as in the third quarter. Motor vehicle output subtracted 2.04 percentage
points from the fourth-quarter change in real GDP after adding 0.16 percentage point to the third-quarter
change.
AND MUCH MORE....including TABLES....
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
GROSS DOMESTIC PRODUCT: FOURTH QUARTER 2008 (PRELIMINARY) [27 February 2009]
http://www.bea.gov/newsreleases/national/gdp/2009/gdp408p.htm
or
http://www.bea.gov/newsreleases/national/gdp/2009/pdf/gdp408p.pdf
[full-text, 13 pages]
or
http://www.bea.gov/newsreleases/national/gdp/2009/xls/gdp408p.xls
[spreadsheet]
and
Highlights
http://www.bea.gov/newsreleases/national/gdp/2009/pdf/gdp408p_fax.pdf
Real gross domestic product -- the output of goods and services produced by labor and property
located in the United States -- decreased at an annual rate of 6.2 percent in the fourth quarter of 2008,
(that is, from the third quarter to the fourth quarter), according to preliminary estimates released by the
Bureau of Economic Analysis. In the third quarter, real GDP decreased 0.5 percent.
The GDP estimates released today are based on more complete source data than were available for
the advance estimates issued last month. In the advance estimates, the decrease in real GDP was 3.8
percent (see "Revisions" on page 3).
The decrease in real GDP in the fourth quarter primarily reflected negative contributions from
exports, personal consumption expenditures, equipment and software, and residential fixed investment
that were partly offset by a positive contribution from federal government spending. Imports, which are
a subtraction in the calculation of GDP, decreased.
Most of the major components contributed to the much larger decrease in real GDP in the fourth
quarter than in the third. The largest contributors were a downturn in exports and a much larger
decrease in equipment and software. The most notable offset was a much larger decrease in imports.
Final sales of computers subtracted 0.01 percentage point from the fourth-quarter change in real
GDP, the same contribution as in the third quarter. Motor vehicle output subtracted 2.04 percentage
points from the fourth-quarter change in real GDP after adding 0.16 percentage point to the third-quarter
change.
AND MUCH MORE....including TABLES....
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 5:35 AM
