US GDP down by 5.7% in Q1 2009
The first quarter of 2009 seems to be better than the last quarter of 2008 for the US economy. The GDP for first quarter has been recorded at 5.7% negative, which is a tad lower than the 6.3% negative GDP recorded in the previous quarter.
The massive stimulus spending by the government seems to have helped in more than making up the gap of the negative growth rate in the private sector.
But with funding capabilities of the government going down due to the surging fiscal deficit, experts are fearing that the recovery could be delayed till 2010 first quarter at least.