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Economy

Economic Data (USA)

Friday, February 27, 2009

Gross Domestic Product (GDP) "Preliminary" Released Today for Q4 2008

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

Predicted: -5.4%
Actual: -6.2%

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 Q4 2008, which will contain the most authoritative data for the fourth quarter, will be released on March 26, 2009.

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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