GDP Falls 1.0%; Sign that Recession is Slowing Down
CNBC's Rick Santelli, Steve Liesman, Jack Bouroudjian, and money manager Mario Gabelli offer their analysis of Friday's Q2 GDP data which contracted at a slower-than-expected pace.
Gross domestic product, which measures total goods and services output within U.S. borders, fell at a 1.0 percent annual rate, the Commerce Department said, after tumbling 6.4 percent in the January-March quarter, the biggest decline since a matching fall in the first quarter of 1982. It was previously reported as a 5.5 percent drop.
Posted on July 31, 2009
Email
ShareSign up | Sign in
