First Quarter GDP, Advanced Estimate
The advanced estimate for first quarter GDP for 2009 indicates that the economy shrank 6.1%, a faster rate than the preliminary report indicated.
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.
There has been a slight increase in personal consumption expenditures (PCE).