Graph of the Day for August 3, 2010

"The U.S. economy slid into its downturn somewhat faster and more severely than previously estimated, according to new information from the Commerce Department.  The department's Bureau of Economic Analysis Friday released its annual revisions to previously published data on the Gross Domestic Product figures for 2007 through 2009.  The revisions, though relatively minor, primarily reflect better and more complete data on the economy reported to the bureau since its last estimates."  Daily Markets, July 30, 2010.

Three Years of GDP Data Revised in One Month By Dept. of Commerce


Source:  St. Louis Fed.  (Blue is pre-revision.  Red is post-revision.)


Hoven's Index for August 3, 2010

Pre-revision statistics of real GDP:

Time of peak GDP (beginning of GDP recession):  2nd Quarter of 2008

Total drop of GDP:  3.8%

Post-revision statistics of real GDP:

Time of peak GDP:  4th Quarter of 2007

Total drop of GDP:  4.1%

Drop from peak quarter to most recent (2Q10):  -1.1%

Source for post-revision:  St. Louis Fed.  Pre-revision from memory.


Graph of the Day Archive.

"The U.S. economy slid into its downturn somewhat faster and more severely than previously estimated, according to new information from the Commerce Department.  The department's Bureau of Economic Analysis Friday released its annual revisions to previously published data on the Gross Domestic Product figures for 2007 through 2009.  The revisions, though relatively minor, primarily reflect better and more complete data on the economy reported to the bureau since its last estimates."  Daily Markets, July 30, 2010.

Three Years of GDP Data Revised in One Month By Dept. of Commerce


Source:  St. Louis Fed.  (Blue is pre-revision.  Red is post-revision.)


Hoven's Index for August 3, 2010

Pre-revision statistics of real GDP:

Time of peak GDP (beginning of GDP recession):  2nd Quarter of 2008

Total drop of GDP:  3.8%

Post-revision statistics of real GDP:

Time of peak GDP:  4th Quarter of 2007

Total drop of GDP:  4.1%

Drop from peak quarter to most recent (2Q10):  -1.1%

Source for post-revision:  St. Louis Fed.  Pre-revision from memory.


Graph of the Day Archive.

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