Gross Domestic Product (GDP) "Preliminary" Released Today for Q3 2008

The preliminary, real U.S. Gross Domestic Product (GDP) report for the third quarter of 2008 was released this morning:

Predicted: -0.5%
Actual: -0.5%

The above percentages represent the quarter-to-quarter change in the Gross Domestic Product for the United States. The "predicted" figure is what economists and Wall Street forecasters were expecting, while the "actual" is the actual or real figure. The GDP report is produced by the U.S. Commerce Department's Bureau of Economic Analysis.

The final GDP report for Q3, 2008, which will contain the most authoritative data for the third quarter, will be released on December 23, 2008.

The GDP is a very broad measure of economic activity for the entire United States, covering all sectors of the economy. The Commerce Department defines real GDP as, "the output of goods and services produced by labor and property located in the United States."

Click here to view the full Commerce Department report (PDF).

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