US GDP contracts 1.4% in Q1; overall GDP increases $380B to $24.38T

[F-22Raptor]

Real gross domestic product (GDP) decreased at an annual rate of 1.4 percent in the first quarter of 2022 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 6.9 percent.

Current‑dollar GDP increased 6.5 percent at an annual rate, or $379.9 billion, in the first quarter to a level of $24.38 trillion. In the fourth quarter, GDP increased 14.5 percent, or $800.5 billion (table 1 and table 3).

Gross Domestic Product, First Quarter 2022 (Advance Estimate) | U.S. Bureau of Economic Analysis (BEA)

Real gross domestic product (GDP) decreased at an annual rate of 1.4 percent in the first quarter of 2022 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 6.9 percent. The GDP estimate released today is based on...

www.bea.gov

 

[mili]

Looks like printing trillions & letting virus rip thru the population is not a recipe for growth.

 

[Dungeness]

Good, at least we have high inflation to count on to boost GDP number.

 

[Wergeland]

It is doubtful if USA have had any true growth in GDP at all since the 2008 financial crisis.

 

[retaxis]

Inflation and trans feminism courses dont bring in as much real growth as they thought huh? Who coulda guessed. At least the ever growing america divide along demographic lines is a good show to watch

 

[Wergeland]

Inflation and trans feminism courses dont bring in as much real growth as they thought huh? Who coulda guessed. At least the ever growing america divide along demographic lines is a good show to watch

The growth since 2008 is driven by money printing. Of course then the GDP will grow on paper, dollar wise.

The real factor is PPP, which show American economy going sideways for well over a decade now, if i am correct. That is accompanied by statistics showing increased income gap between rich and poor, and a decline in average life expectancy.

 

[northeast]

It is doubtful if USA have had any true growth in GDP at all since the 2008 financial crisis.

They don't count financial sector, housing and many service sector price increasing as inflation. All bubble but less inflation

 

[SaadH]

Recession around the corner.

 

[Chat SAMOSA]

Recession around the corner.

Real gross domestic product (GDP) decreased at an annual rate of 1.4 percent in the first quarter of 2022 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 6.9 percent.

Current‑dollar GDP increased 6.5 percent at an annual rate, or $379.9 billion, in the first quarter to a level of $24.38 trillion. In the fourth quarter, GDP increased 14.5 percent, or $800.5 billion (table 1 and table 3).

Gross Domestic Product, First Quarter 2022 (Advance Estimate) | U.S. Bureau of Economic Analysis (BEA)

Real gross domestic product (GDP) decreased at an annual rate of 1.4 percent in the first quarter of 2022 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 6.9 percent. The GDP estimate released today is based on...

www.bea.gov

US does have a serious economic problem but it is mostly supply side. Mild recession towards end of 2023 or early 2024 is expected but meanwhile since almost all other economies are in worse shape, on a relative basis US doesn't hv to worry. We in the 3rd world of ourselves have to worry and get our act together