Nonsequitur: Actually … the Economy Contracted Earlier This Year

May 30, 2014

The US Department of Commerce, Bureau of Economic Analysis corrected itself this week. The BEA reports that the GDP shrank by 1% in the first quarter, the first contraction in the economy in three years. Exports decreased (as imports increased) and private inventory demand was down. More details here.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: