Real gross domestic product (GDP) decreased at an annual rate of 1.5 percent in the first quarter of 2022 (table 1), according to the "second" 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 more complete source data than were available for the "advance" estimate issued last month. In the advance estimate, the decrease in real GDP was 1.4 percent. The update primarily reflects downward revisions to private inventory investment and residential investment that were partly offset by an upward revision to consumer spending.
It will be important to see if this continues, or if indeed was a one time event...
At $5+ for diesel for trucking and >$4 for normal gasoline, next print will only confirm the recession. Hmmmm. Printing money seems to have negative effects..... See Weimar circa 1920s.
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