The BEA is out with its Q4 first estimate of GDP (LINK). I look forward to a detailed analysis from Dr. Rick Davis when he has had time to prepare one.
Here are some brief comments. First, the BEA’s introductory summary:
Real gross domestic product — the output of goods and services produced by labor [...]
I want to make a few points briefly.
First, if you haven’t, please read Dr. Davis’ discussion of our economic data two posts below this (or click HERE). He documents that economic times remain difficult, in line with the Gallup.com polling data I have frequently referred to. He also points out how difficult it is to [...]
In their second estimate of the first quarter 2012 GDP, the Bureau of Economic Analysis (BEA) lowered the annualized rate of U.S. domestic economic growth to 1.88% (down about a third of a percent from the 2.20% previously reported), and now more than a percent below the growth rate for the fourth quarter [...]
In their “advanced” estimate of the first quarter 2012 GDP, the Bureau of Economic Analysis (BEA) found that the annualized rate of U.S. domestic economic growth was 2.2%, down more than three-quarters of a percent from the fourth quarter of 2011. The vast bulk of the downturn was in commercial activities, with both fixed investments [...]
In their “final” revision of their estimate of the fourth quarter 2011 GDP, the Bureau of Economic Analysis (BEA) found that the annualized rate of U.S. domestic economic growth was 2.97%, down a mere 0.01 percent from their last estimate for the fourth quarter and still more than a percent higher than their “final” estimate [...]