Nominal GDP, not adjusted for inflation/currency devaluation and statistical gimmicks, rose $90.9 billion quarter over quarter in the 4th quarter of 2009. This gain was largely a result of gains in personal consumption (C) and government expenditures and investment (G), definition GDP = C+I+NetX+G.
Basically nothing new here. GDP continues to be distorted by historical high, import-based consumption and ever increasing government expenditures and investment. In other words, an economic recovery based on a foundation of sand.
Take a look for yourself -
C as % of GDP:
I as % of GDP:
NetX as % of GDP:
G as % of GDP:
Source: cnbc.com
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