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GDP Report: Economy in Low Gear or Reverse?


We soon find out if the economy is in low gear right now, by the way, or in reverse. This morning the government releases its first estimate of economic growth for the first three months of the year. This is the gross domestic product - the total value of all goods and services that we produce, everything from autos built to manicures sold - many things in between.

Just for comparison, the economy grew by six-tenths of one percent in the fourth quarter of last year, which is considered a disappointment. Think if somebody offered you a six-tenths of one percent raise. Today we find out if the GDP may actually have gone negative in the first quarter. Transcript provided by NPR, Copyright NPR.

NPR transcripts are created on a rush deadline by an NPR contractor. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.

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