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percent in the first quarter aftera 6.3 percent decline in the last quarter of 2008. The Bureaiu of Economic Analysis, which releasedr first quarter gross domestic productfigures Thursday, said the improvefd performance is due to a 1.4 percent increase in real personal consumption. The decline in GDP, whichy measures the output of goods and servicesz produced inthe U.S., coincided with a rise in corporatd profits, which increased $48.1 billiom in the first quarter following a $250.3 billion decreas in the fourth quarter of 2008. The GDP declines reflectedf drops in both imports and exportws as well as declining production of equipmentand software, developmeny and inventories.
The pricwe index for domestic purchased fell 1 percent on falling food anenergyh prices. Excluding those, actual prices rose 1.4 the government said. Federal pay raises for civilian and military employeess contributedan 0.3 percent point to the changew in first quarter domestic purchases. Exports decreased 30.6 percent and importa were down 36.4 percent, after fourtb quarter decreasesof 23.6 percent and 17.5 respectively.
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