DallasFed: First Quarter Sees Continued Sharp Declines
International Economic Update
July 2009
Global and Monetary Policy Institute
Federal Reserve Bank of Dallas
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First Quarter Sees Continued Sharp Declines
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With few exceptions, nations reported continued declines in GDP
in the first quarter. The GDPs of the U.K., the euro zone and
Japan contracted at a faster rate than in the United States.
Especially sharp was the nearly 9 percent contraction in Japan
from first quarter 2008. Among the euro countries, Germany has
been hardest hit, with exports dropping 29 percent since last
year and GDP dropping nearly 7 percent since first quarter 2008.
Read More: <http://dallasfed.org/institute/update/2009/int0904.cfm>
Regards,
Tarek Hoteit
+1 (214) 770-9691
http://tarek.hoteit.org
Labels: finance