GDP fell 6.1% for first quarter: there is an upside
May 01, 2009 | Comments 0
The U.S. economy is still looking a bit shaky as the GDP has fell 6.1% for the first quarter; this is much the same as the fourth quarter of 2008. However, there is still an upside to this, which is explained in the video below.
The drop in Q1 was much worse that had been expected, economists presumed that the drop would only be 4.7% gross in domestic product, this is the broadest measure of the nation’s economic activity.
The 6.1% for first quarter was the second largest drop recorded in 26 years, the worst was the 2008 Q4, the GDP fell 6.3% then.
The video tries to look at the bigger picture and explains that there is still an upside, investors do not seem to be upset by the news. In the first half hour of trading on Wednesday, major U.S. stock indexes were all up more than 1%.
Watch the video below.
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Filed Under: Videos: Finance and Business