Wednesday, April 29, 2009
[IWS] BEA: GROSS DOMESTIC PRODUCT: FIRST QUARTER 2009 (ADVANCE) [29 April 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: FIRST QUARTER 2009 (ADVANCE) [29 April 2009]
http://www.bea.gov/newsreleases/national/gdp/2009/gdp109a.htm
or
http://www.bea.gov/newsreleases/national/gdp/2009/pdf/gdp109a.pdf
[full-text, 14 pages]
or
http://www.bea.gov/newsreleases/national/gdp/2009/xls/gdp109a.xls
[spreadsheet]
and
Highlights
http://www.bea.gov/newsreleases/national/gdp/2009/pdf/gdp109a_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 6.1 percent in the first quarter of 2009, (that
is, from the fourth quarter to the first quarter), according to advance estimates released by the Bureau of
Economic Analysis. In the fourth quarter, real GDP decreased 6.3 percent.
The Bureau emphasized that the first-quarter "advance" estimates are based on source data that
are incomplete or subject to further revision by the source agency (see the box on page 4). The first-
quarter "preliminary" estimates, based on more comprehensive data, will be released on May 29, 2009.
The decrease in real GDP in the first quarter primarily reflected negative contributions from
exports, private inventory investment, equipment and software, nonresidential structures, and residential
fixed investment that were partly offset by a positive contribution from personal consumption
expenditures (PCE). Imports, which are a subtraction in the calculation of GDP, decreased.
The slightly smaller decrease in real GDP in the first quarter than in the fourth reflected an upturn
in PCE for durable and nondurable goods and a larger decrease in imports that were mostly offset by
larger decreases in private inventory investment and in nonresidential structures and a downturn in
federal government spending.
Motor vehicle output subtracted 1.36 percentage points from the first-quarter change in real GDP
after subtracting 2.01 percentage points from the fourth-quarter change. Final sales of computers added
0.05 percentage point to the first-quarter change in real GDP after subtracting 0.02 percentage point
from the fourth-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: FIRST QUARTER 2009 (ADVANCE) [29 April 2009]
http://www.bea.gov/newsreleases/national/gdp/2009/gdp109a.htm
or
http://www.bea.gov/newsreleases/national/gdp/2009/pdf/gdp109a.pdf
[full-text, 14 pages]
or
http://www.bea.gov/newsreleases/national/gdp/2009/xls/gdp109a.xls
[spreadsheet]
and
Highlights
http://www.bea.gov/newsreleases/national/gdp/2009/pdf/gdp109a_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 6.1 percent in the first quarter of 2009, (that
is, from the fourth quarter to the first quarter), according to advance estimates released by the Bureau of
Economic Analysis. In the fourth quarter, real GDP decreased 6.3 percent.
The Bureau emphasized that the first-quarter "advance" estimates are based on source data that
are incomplete or subject to further revision by the source agency (see the box on page 4). The first-
quarter "preliminary" estimates, based on more comprehensive data, will be released on May 29, 2009.
The decrease in real GDP in the first quarter primarily reflected negative contributions from
exports, private inventory investment, equipment and software, nonresidential structures, and residential
fixed investment that were partly offset by a positive contribution from personal consumption
expenditures (PCE). Imports, which are a subtraction in the calculation of GDP, decreased.
The slightly smaller decrease in real GDP in the first quarter than in the fourth reflected an upturn
in PCE for durable and nondurable goods and a larger decrease in imports that were mostly offset by
larger decreases in private inventory investment and in nonresidential structures and a downturn in
federal government spending.
Motor vehicle output subtracted 1.36 percentage points from the first-quarter change in real GDP
after subtracting 2.01 percentage points from the fourth-quarter change. Final sales of computers added
0.05 percentage point to the first-quarter change in real GDP after subtracting 0.02 percentage point
from the fourth-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 : 5:37 AM
