Friday, January 27, 2012

2011 GDP Plummets 43 Percent to 1.7 Percent Overall, Q4 at 2.8 Percent, Q3 at 1.8 Percent

And don't forget. 25 percent of GDP is from government spending.

The Bureau of Economic Analysis reports today here:

Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 2.8 percent in the fourth quarter of 2011 (that is, from the third quarter to the fourth quarter), according to the "advance" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 1.8 percent. ... Real GDP increased 1.7 percent in 2011 (that is, from the 2010 annual level to the 2011 annual level), compared with an increase of 3.0 percent in 2010.