Economy down sharply in Dec Q - revised #s over 6% annual

The extent of the decline in the US economy in the December quarter (Q4) is becoming clearer. Revised estimates from the Bureau of Economic Analysis show seasonally adjusted real GDP declined 1.6% Q4/Q3 or an annual 6.2% seasonally adjusted. This is a considerably steeper decline than the 3.8% initially released.

BEA now reports real seasonally adjusted DecQ expressed in annual terms:

- personal consumption off 4.3%
- residential investment down 22.2%
- non-residential fixed investment down 28.8%
- exports down 23.6%
- imports down 16%
- inventory increases added 0.16% points
- real final sales down 6.44%

http://www.bea.gov/national/index.htm#gdp

TOLLROADSnews 2009-02-27