What was gdp in 2008

It is also worse than any quarterly contraction in any recession since the Great Depression, as revealed by a close look at the history of recessions.

GDP History. Bureau of Economic Analysis. Actively scan device characteristics for identification. Use precise geolocation data.

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Reviewed by Robert C. Article Reviewed February 11, Learn about our Financial Review Board. Article Sources. Your Privacy Rights. Brian Bethune, chief U. He doesn't expect even a modest pick-up in GDP until the fourth quarter of this year. See all CNNMoney. They're hiring! If the Fortune were a country Sponsored By:. Amazon drops California associates to avoid Debt ceiling: Cut, cap and balance In the third quarter, real GDP decreased 0. The Bureau emphasized that the fourth-quarter advance estimates are based on source data that are incomplete or subject to further revision by the source agency see the box on page 4.

The fourth- quarter preliminary estimates, based on more comprehensive data, will be released on February 27, The decrease in real GDP in the fourth quarter primarily reflected negative contributions from exports, personal consumption expenditures, equipment and software, and residential fixed investment that were partly offset by positive contributions from private inventory investment and federal government spending. Imports, which are a subtraction in the calculation of GDP, decreased.

Most of the major components contributed to the much larger decrease in real GDP in the fourth quarter than in the third. The largest contributors were a downturn in exports and a much larger decrease in equipment and software. The most notable offset was a much larger decrease in imports.

Final sales of computers subtracted less than 0. Motor vehicle output subtracted 2. Quarter-to-quarter dollar changes are differences between these published estimates. Percent changes are calculated from unrounded data and are annualized.

Real estimates are in chained dollars. Price indexes are chain-type measures. Excluding food and energy prices, the price index for gross domestic purchases increased 1.

Real personal consumption expenditures decreased 3. Durable goods decreased Nondurable goods decreased 7. Services expenditures increased 1. Real nonresidential fixed investment decreased Nonresidential structures decreased 1.