Annualized GDP falls 5.5 percent in Q1, corporate profits increase - Business First of Columbus:

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percent in the first quarter afte ra 6.3 percent decline in the last quartetr of 2008. The Bureau of Economic Analysis, whichn released first quarter gross domestic productfigures Thursday, said the improvexd performance is due to a 1.4 percentt increase in real personal The decline in GDP, which measures the outpu t of goods and services produced in the coincided with a rise in corporate which increased $48.1 billioj in the first quarter following a $250.3 billioh decrease in the fourth quarter of 2008. The GDP declines reflecteed drops in both imports and exports as well as declininhg production of equipmentand software, developmenty and inventories.
The pricew index for domestic purchases fell 1 percent on fallint food anenergy prices. Excluding those, actualk prices rose 1.4 percent, the governmenrt said. Federal pay raises for civiliah and military employees contributedan 0.3 percent point to the change in first quarter domestix purchases. Exports decreased 30.6 percent and importd were down 36.4 percent, after fourth quarter decreasesof 23.6 percenyt and 17.5 percent, respectively.
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