Daily News
View All NewsGDP decline beats estimate
July 31, 2009
Real gross domestic product in the U.S. decreased at an annual rate of 1.0% in the second quarter, according to an advanced estimate released today by the U.S. Department of Commerce. The Wall Street Journal reported economists had expected a 1.5% decline.
Although still a decline, the decrease in real GDP is smaller than in previous quarters. Real GDP decreased at an annual rate of 6.4% in the first quarter and decreased 5.4 % in the fourth quarter of last year.