According to the latest release of GDP figures from the BEA, combined federal, state, and local government has declined sequentially for six consecutive quarters:
2010:Q4 |
2011:Q1 |
2011:Q2 |
2011:Q3 |
2011:Q4 |
2012:Q1\r\ |
-2.8 |
-5.9 |
-0.9 |
-0.1 |
-4.2 |
-4.0 | |
This includes defense spending.
-5.9 |
-12.6 |
7.0 |
5.0 |
-12.1 | -8.3 | |
which is good news.
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