Final 1Q2011 GDP Revised Up Slightly to 1.9%

by Steven Hansen¬†and Doug Short The final revision to 1Q2011 GDP showed little change from the second estimate – except lower imports (less imports mean less subtraction from GDP) which was met almost equally by lower spending by local governments.¬† Overall, this is a slight increase in GDP from 1.8% (advanced and second estimate) to …

Second Estimate: First Quarter 2011 GDP Unchanged

Pundits were looking for 1Q2011 GDP to rise over 2%. What happened is simply explained by the Bureau of Economic Analysis (BEA) as up things offset down things. The Q1 GDP second estimate of 1.8 was little more than half the long-term 3.3 GDP average, below the regression and spot on the 10-year moving average. The first quarter of 2011 doesn’t offer evidence of a strong recovery from the Financial Crisis and Great Recession.