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Economy Snaps Long Slump
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What are the figures behind the 3.5% GDP growth numbers for the third quarter of 2009, and what does it tell us. This figure conceals real weaknesses in the economy covered up by substantial government support. About 1% of this was from auto vehicles and parts -where the cash for clunkers program played abig part and many have actually siphoned off future sales and put it in the present- 0.6% from federal spending, and 0.5% from residential investment where home builders were keen to take advantage of a $8000 government credit for homebuyers. This gives over 2.1% of GDP growth in the third quarter from government support. About 0.9% was from a change in inventories. And 0.8% was from other consumer goods and 0.6% from consumer services. Exports added 1.5% to GDP growth and imports were a negative 2%.
U.S. GDP numbers by quarter, and the component breakdown, for 2009. What it says for the future.
01/31/2009
What the GDP quarterly numbers and breakdown say about the future.
Grouped Articles
Business Pullback Drives Drop in GDP
Wall Street Journal 04/30/2009
U.S. Economy Began to Grow Again in the Third Quarter
New York Times 10/30/2009
False Reading: Brisk GDP Growth Can't Last
Wall Street Journal 10/29/2009
Wall Street Journal 10/30/2009
Wall Street Journal 10/30/2009
America's Grossly Distorted Product
Wall Street Journal 10/30/2009
USA GDP growth
10/29/2009
Grouped Articles
U.S. Economy Began to Grow Again in the Third Quarter
New York Times 10/30/2009
False Reading: Brisk GDP Growth Can't Last
Wall Street Journal 10/29/2009
Wall Street Journal 10/30/2009
America's Grossly Distorted Product
Wall Street Journal 10/30/2009
Summers Tries Not to Gloat About GDP Report
Wall Street Journal 10/29/2009
Goldman, J.P. Morgan Economists Debate Shape of Recovery
Wall Street Journal 10/29/2009
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