Wednesday, September 30, 2009

Revised US GDP figure for Q2 2009

According to the US Commerce Department the US Gross Domestic Product contracted in Q2 2009 by an annualised rate of "only" 0.7% instead of the previous estimate of -1%.

GDP growth in recent quarters:
Q4 of 2008: -5.4%
Q1 of 2009: -6.4%
Q2 of 2009: -0.7%

That means that the GDP rates in Q2 for both the US and the UK have been revised and the new estimates paint a better picture than before and maybe better prospects for Q3 (which ends today, Sept. 30, 2009).

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