As in prior quarters, net exports have been helping hold up GDP (it is the expenditure category that increased the most in real terms 2009 Q1-Q2). More surprising to me is that defense spending is the second largest increase ... my spending-based forecasting method would not have picked that up.
NOTE: Nondefense spending was hardly changed Q1-Q2. I assume that the "stimulus package" did not have a big dose of defense spending, but rather was essentially all nondefense spending.
NOTE: Nondefense spending was hardly changed Q1-Q2. I assume that the "stimulus package" did not have a big dose of defense spending, but rather was essentially all nondefense spending.
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