Advance Estimate of GDP for the Second Quarter of 2011 and A
Posted: Fri Jul 29, 2011 3:02 pmAdvance Estimate of GDP for the Second Quarter of 2011 and Annual Revision
Posted by Austan Goolsbee on July 29, 2011 at 10:15 AM EDT
Today’s report shows that the economy posted the eighth straight quarter of positive growth, as real GDP (the total amount of goods and services produced in the country) grew, but at only a 1.3 percent annual rate in the second quarter of this year. The downward revision in the first quarter to 0.4 percent further reflects the slowdown of economic growth due to substantial headwinds faced in the first half of this year. Additionally, the annual revision to GDP showed that the Great Recession – the worst on record – was even deeper than originally estimated.
http://www.whitehouse.gov/blog/2011/07/ ... l-revision
Posted by Austan Goolsbee on July 29, 2011 at 10:15 AM EDT
Today’s report shows that the economy posted the eighth straight quarter of positive growth, as real GDP (the total amount of goods and services produced in the country) grew, but at only a 1.3 percent annual rate in the second quarter of this year. The downward revision in the first quarter to 0.4 percent further reflects the slowdown of economic growth due to substantial headwinds faced in the first half of this year. Additionally, the annual revision to GDP showed that the Great Recession – the worst on record – was even deeper than originally estimated.
http://www.whitehouse.gov/blog/2011/07/ ... l-revision