US economy enjoys surprise Q4 surge

However, real US GDP decreased 2.4% in 2009 from the 2008 annual level, in contrast to an increase of 0.4% in 2008. In the UK, Office for National Statistics' (ONS') figures today revealed the economy grew by 0.3% in Q4 2009, above the initial 0.1% estimate. GDP is the output of goods and services produced by US labour and property. Today's figures are based on more complete source data than were available for the "advance" estimate issued last month by the Bureau of Economic Analysis (BEA), which estimated GDP of 5.7%. Fourth quarter gains primarily reflect a slowing in the pac...