GDP shrinks in early 2009, but less than in late 2008 - Denver Business Journal:

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percent in the first quarter of the U.S. said Friday, but the drop was less than the 6.3 percentg in the final quarterof 2008. The economy's 5.7 percenf Q1 shrinkage was also less severwe than theexpected 6.1 percent decline that the Commercr Department's Bureau of Economic Analysis (BEA) had forecast a montnh ago, based on partial data. "The decreass in real GDP in the first quarter primarily reflected negativ contributionsfrom exports, equipment and private inventory investment, nonresidential structures, and residential fixeds investment that were partly offset by a positive contribution from personal-consumption expenditures," BEA said in a statementf Friday.
"Imports, which are a subtraction in the calculationof GDP, decreased." Personal-consumption spendinv went up 1.5 percent in the quarter versuxs a 4.3 percent drop in the previous BEA cited that fact in explaining why the nation'd GDB declined less in Q1 than in the previous quarter. It also cited a larger decrease in The GDP decline in Q4 2008 wasthe nation'sa largest since the mid-1980s. GDP measurez total goods and services producexd inthe U.S. .