2009 U.S. GDP: Tables and Graphs

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Includes: AGG, DIA, SPY
by: Kirk Lindstrom

Today the Bureau of Economic Analysis released its second estimate of US Gross Domestic Product, or GDP, for 2009 and Q4 of 2009. The estimate for GDP was revised up by 0.2% from the first estimate for Q4-2009 GDP which was was 5.7%

Highlights of Table 1:

  • The contribution from durable goods jumped 20.4% in Q3 from "Cash for Clunkers" then it dropped back to 0.2% in Q4.
  • Contribution to GDP from "Structures" continues to plunge at double digit rates.

GDP for 2009 by Quarter and Full Year

Q1-2009 = -6.4%
Q2-2009 = -0.7%
Q3-2009 = +2.2%
Q4-2009 = +5.9%

All of 2009 = -2.4%
All of 2008 = +0.4%

GDP: Fourth Quarter 2009 (Second Estimate)

  • Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 5.9% in the fourth quarter of 2009 (that is, from the third quarter to the fourth quarter) according to the "second" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 2.2%.

Gross domestic purchases

Real gross domestic purchases -- purchases by U.S. residents of goods and services wherever produced -- increased 5.5% in the fourth quarter, compared with an increase of 3.0% in the third.

Current-dollar GDP
_____________________________________Advance Second
Real GDP............................. 5.7 5.9
Current-dollar GDP................... 6.4 6.3
Gross domestic purchases price index....... 2.1 1.9
(Percent change from preceding quarter)

2009 GDP

  • Real GDP decreased 2.4% in 2009 (that is, from the 2008 annual level to the 2009 annual level), in contrast to an increase of 0.4% in 2008.
  • The decrease in real GDP in 2009 primarily reflected negative contributions from nonresidential fixed investment, exports, private inventory investment, residential fixed investment, and personal consumption expenditures (PCE), that were partly offset by a positive contribution from federal government spending. Imports, which are a subtraction in the calculation of GDP, decreased.
  • The downturn in real GDP primarily reflected downturns in nonresidential fixed investment and in exports and a larger decrease in private inventory investment that were partly offset by a larger decrease in imports and a smaller decrease in residential fixed investment.
  • The price index for gross domestic purchases was unchanged in 2009, compared with an increase of 3.2% in 2008.
  • Current-dollar GDP decreased 1.3%, or $183.2 billion, in 2009. Current-dollar GDP increased 2.6%, or $363.8 billion, in 2008.
  • During 2009 (that is, measured from the fourth quarter of 2008 to the fourth quarter 2009), real GDP increased 0.1%. Real GDP decreased 1.9% during 2008. The price index for gross domestic purchases increased 0.6% during 2009, compared with an increase of 1.9% during 2008.

Percent Change From Preceding Period in Real Gross Domestic Product


Table 1: 2009 Data
[Percent] Seasonally adjusted at annual rates 2009
I
2009
II
2009
III
2009
IV
Gross domestic product -6.4 -0.7 2.2 5.9
Personal consumption expenditures 0.6 -0.9 2.8 1.7
Goods 2.5 -3.1 7.2 2.8
Durable goods 3.9 -5.6 20.4 0.2
Nondurable goods 1.9 -1.9 1.5 4.1
Services -0.3 0.2 0.8 1.2
Gross private domestic investment -50.5 -23.7 5.0 48.9
Fixed investment -39.0 -12.5 -1.3 6.2
Nonresidential -39.2 -9.6 -5.9 6.5
Structures -43.6 -17.3 -18.4 -13.9
Equipment and software -36.4 -4.9 1.5 18.2
Residential -38.2 -23.3 18.9 5.0
Change in private inventories --- --- --- ---
Net exports of goods and services --- --- --- ---
Exports -29.9 -4.1 17.8 22.4
Goods -36.9 -6.3 24.6 34.2
Services -13.6 0.1 5.6 1.4
Imports -36.4 -14.7 21.3 15.3
Goods -41.0 -16.5 25.1 20.2
Services -11.5 -7.5 7.0 -3.9
Government consumption expenditures
and gross investment
-2.6 6.7 2.6 -1.2
Federal -4.3 11.4 8.0 0.1
National defense -5.1 14.0 8.4 -3.5
Nondefense -2.5 6.1 7.0 8.3
State and local -1.5 3.9 -0.6 -2.0

The above table breaking down the data by component is very interesting.

  • You can see the 20.4% Q3 jump in durable goods from "Cash for Clunkers" then it dropped back to 0.2% in Q4.
  • Contribution to GDP from "Structures" continues to plunge at double digit rates.
GDP Total and Percent 2000 to 2010
click image to view full size
US Federal Debt as a percentage of GDP


Next Release Date March 26, 2010

Disclosure: None mentioned

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