Gross Domestic Product Goes Down in First Quarter

 

The decrease in real GDP in the first quarter primarily reflected negative contributions from exports, equipment and software, private inventory investment, nonresidential structures, and residential fixed investment. - Courtesy of TIC Bobcat Excavating

Among the hardest hit in the landscape industry were equipment manufacturers, so now may be a good time to rent, lease or buy equipment you need for your business. Real gross domestic product—the output of goods and services produced by labor and property located in the United States—decreased at an annual rate of 5.5 percent. In the fourth quarter, real GDP decreased 6.3 percent.

Decreases in real GDP were partly offset by a positive contribution from personal consumption expenditures. Imports, which are a subtraction in the calculation of GDP, decreased. ?EUR??,,????'??? Courtesy of Bureau of Economic Analysis