June 25, 2014
Diving Into the GDP Report of -2.9% Growth
Let’s dive into the First Quarter 2014 Third Estimate from the BEA for some weather-details. Real GDP declined 2.9 percent in the first quarter, after increasing 2.6 percent in the fourth. The downturn reflected a downturn in exports, a larger decrease in private inventory investment, a deceleration in PCE, and downturns in nonresidential fixed investment and in state and local government spending, partly offset by an upturn in federal government spending
