Compared with fourth quarter, first quarter may seem encouraging
The U.S. economy likely contracted sharply again in the first three months of 2009, but the details of the report on gross domestic product should indicate that the economy is beginning to heal.
After falling at a 6.3% annualized pace in the fourth quarter, a 5.1% decline for first-quarter GDP was the median forecast of economists surveyed by MarketWatch. If they are right, it would be the worst two-quarter decline in more than 50 years.
But before you throw yourself off the ledge, however, take a closer look. Hidden in that horrendous decline are signs of improvement after more than a year of recession.
keyboard shortcuts: V vote up article J next comment K previous comment