First Quarter Gross National Product Report

Mr. Darby spoke to reporters in the Department of Commerce to announce the Department’s report on the economy during the first three months … read more

Mr. Darby spoke to reporters in the Department of Commerce to announce the Department’s report on the economy during the first three months of 1990. He announced the gross national product, a key indicator of the health of the economy, declined for the second straight quarter for the first time since the recession of 1981-82. He said inventories for American businesses fell sharply in March, and the inflation rate rose to 5.1 percent. The rise in the inflation rate may be attributable to fluctuations in the price of imported oil. On Thursday, April 26, the National Bureau of Economic Research officially designated the current economy to be in a recession. Every part of the economy added to the recession, including consumer spending, investment, and declining exports. Mr. Darby said a rise in the G.N.P. during the second quarter was “within the realm of possibility.” close

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First Quarter Gross National Product Report

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Program ID:
17721-1
Category:
News Conference
Format:
News Conference
Location:
Washington, District of Columbia, United States
First Aired:
Apr 26, 1991 | 5:57pm EDT | C-SPAN 1
Last Aired:
Apr 27, 1991 | 6:55am EDT | C-SPAN 2

Airing Details

  • Apr 26, 1991 | 5:57pm EDT | C-SPAN 1
  • Apr 26, 1991 | 8:15pm EDT | C-SPAN 1
  • Apr 26, 1991 | 11:30pm EDT | C-SPAN 2
  • Apr 27, 1991 | 1:56am EDT | C-SPAN 1
  • Apr 27, 1991 | 6:55am EDT | C-SPAN 2
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First Quarter Gross National Product Report

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