Friday, July 30, 2010

GDP Revisions

And here is a summary of the revisions:

QuarterGDPGDP RevisedChange
2007-I 1.2%0.9%-0.3%
2007-II 3.2%3.2%0.0%
2007-III 3.6%2.3%-1.3%
2007-IV 2.1%2.9%0.8%
2008-I -0.7%-0.7%0.0%
2008-II 1.5%0.6%-0.9%
2008-III -2.7%-4.0%-1.3%
2008-IV -5.4%-6.8%-1.4%
2009-I -6.4%-4.9%1.5%
2009-II -0.7%-0.7%0.0%
2009-III 2.2%1.6%-0.6%
2009-IV 5.6%5.0%-0.6%
2010-I 2.7%3.7%1.0%
2010-II 2.4%

The recession was worse in 2008 than originally estimated.

Q1 2010 was revised up, but Q3 and Q4 2009 were revised down. So the recovery is a little weaker than originally estimated.

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