Economic Numbers Change Little

FoxBusiness reports gross domestic product (GDP) increased at an annual 1.9 percent in the first quarter of the year according to the Commerce Department, down from 3.0 percent in the fourth quarter of 2011. Excluding inventory values, which fell in the first quarter, the economy grew at a rate of 1.7 percent. In the biggest decline since Q4 2008, after tax corporate profits fell 4.1 percent in the first quarter 2012, following a rise of 1.1 percent in the last quarter 2011. MHProNews.com has learned gross domestic income increased in the fourth quarter at 2.2 percent, revised down from the original 4.4 percent; and real disposable personal income for Q4 2011 was revised down from 1.7 percent to 0.2 percent.

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