hmm…2014 Q1 real GDP growth 0.1%

jamesmith

“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 0.1 percent in the first quarter (that is, from
the fourth quarter of 2013 to the first quarter of 2014), according to the "advance" estimate released by
the Bureau of Economic Analysis.

The Bureau emphasized that the first-quarter advance estimate released today is based on source
data that are incomplete or subject to further revision by the source agency (see the box on page 3 and
"Comparisons of Revisions to GDP" on page 5).  The "second" estimate for the first quarter, based on
more complete data, will be released on May 29, 2014."

More detailed calculation can be found here: http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm

The “second” estimate will likely be lower, Goldman Sachs just reduced their estimate from -0.3% to -0.6%.

let’s all blame on the weather :)