IWS Documented News INTERNATIONAL

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
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Gross Domestic Product: Fourth Quarter 2009 (Second Estimate) [26 February 2010]

http://www.bea.gov/newsreleases/national/gdp/2010/gdp4q09_2nd.htm

or

http://www.bea.gov/newsreleases/national/gdp/2010/pdf/gdp4q09_2nd.pdf

[full-text, 13 pages]

or

http://www.bea.gov/newsreleases/national/gdp/2010/xls/gdp4q09_2nd.xls

[spreadsheet]

and

Highlights

http://www.bea.gov/newsreleases/national/gdp/2010/pdf/gdp4q09_2nd_fax.pdf

 

Real gross domestic product -- the output of goods and services produced by labor and property

located in the United States -- increased at an annual rate of 5.9 percent in the fourth quarter of 2009

(that is, from the third quarter to the fourth quarter) according to the "second" estimate released by the

Bureau of Economic Analysis.  In the third quarter, real GDP increased 2.2 percent.

 

            The GDP estimates released today are based on more complete source data than were available

for the "advance" estimate issued last month.  In the advance estimate, the increase in real GDP was 5.7

percent (see "Revisions" on page 3).

 

            The increase in real GDP in the fourth quarter primarily reflected positive contributions from

private inventory investment, exports, personal consumption expenditures (PCE), and nonresidential

fixed investment.  Imports, which are a subtraction in the calculation of GDP, increased.

 

            The acceleration in real GDP in the fourth quarter primarily reflected an acceleration in private

inventory investment, an upturn in nonresidential fixed investment, a deceleration in imports, and an

acceleration in exports that were partly offset by decelerations in PCE and in federal government

spending.

 

            Motor vehicle output added 0.44 percentage point to the fourth-quarter change in real GDP after

adding 1.45 percentage points to the third-quarter change.  Final sales of computers subtracted 0.01

percentage point from the fourth-quarter change in real GDP after subtracting 0.08 percentage point

from the third-quarter change.

 

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FOOTNOTE.--Quarterly estimates are expressed at seasonally adjusted annual rates, unless otherwise

specified.  Quarter-to-quarter dollar changes are differences between these published estimates.

Percent changes are calculated from unrounded data and are annualized.  “Real” estimates are in chained

(2005) dollars.  Price indexes are chain-type measures.

 

            This news release is available on  BEA’s Web site along with the Technical Note and Highlights

related to this release.

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AND MUCH MORE...including TABLES....

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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.

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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                  
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