Annualized GDP falls 5.5 percent in Q1, corporate profits increase - Business First of Columbus:

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percent in the first quarter aftera 6.3 percent decline in the last quarterd of 2008. The Bureau of Economic which released first quarter gross domestic productfigurea Thursday, said the improved performance is due to a 1.4 percenf increase in real personal consumption. The decline in GDP, whicu measures the output of goodx and services produced in the coincided with a rise incorporate profits, whicg increased $48.1 billion in the first quartedr following a $250.3 billion decrease in the fourth quarter of 2008. The GDP declinex reflected drops in both imports and exports as well as declining production of equipment and developmentand inventories.
The price index for domestifc purchases fell 1 percent on falling food anenergu prices. Excluding those, actual prices rose 1.4 the government said. Federal pay raisesx for civilian and military employees contributedan 0.3 percent poinft to the change in first quartedr domestic purchases. Exports decreased 30.6 percent and imports were down 36.4 after fourth quarter decreasesof 23.6 percenr and 17.5 percent, respectively.
On the