Economic Outlook: May 2009

Economic Outlook: May 2009

U.S. ECONOMY Preliminary estimates of 2009 first quarter GDP suggest only a slight improvement from 2008’s fourth quarter (-6.1 vs. -6.3); however, the massive federal stimuli coming forward point to a possible leveling and then rebound in the quarters ahead.  Much of the last quarter’s contraction centered on decreases in exports (-30%) and a reduction…