Wednesday, January 30, 2013

Is this a surprise to anyone on the street?

Gross domestic product, the volume of all goods and services produced, dropped at a 0.1 percent annual rate, weaker than any economist forecast in a Bloomberg survey and the worst performance since the second quarter of 2009, when the world’s largest economy was still in the recession, Commerce Department figures showed today in Washington. A decline in government outlays and smaller gain in stockpiles subtracted a combined 2.6 percentage points from growth.

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