The U.S. Commerce Department’s Bureau of Economic Analysis today released the second estimate of gross domestic product (GDP) for the fourth quarter of 2009. Real GDP was revised up slightly from 5.7 percent at an annual rate to 5.9 percent, primarily reflecting a smaller drawdown of inventories.
“One year after being implemented, it is clear that the Recovery Act is working to cushion the greatest economic crisis since the Great Depression and lay a new foundation for economic growth,” said U.S. Commerce Under Secretary for Economic Affairs Rebecca Blank. “But as the president has said, our recovery will be uneven and we won’t be satisfied until every American who wants a job has one. That’s why we’re working every day to find more ways to support job creation and get our economy back on firm footing.”
Source: U.S. Department of Commerce
