The “advance” estimate of U.S. real gross domestic product (GDP) for the fourth quarter of 2021 grew at a better-than-expected pace, up by 6.9 percent at an annual rate. As a result, real GDP increased by 5.7 percent in 2021, the strongest growth since 1984. The largerthan-expected growth in the fourth quarter was mainly boosted by a replenishment of inventories. Exports also … [Read more...] about Business Indicators
Business IndicatorsFebruary 2022
The “third” estimate of U.S. real gross domestic product (GDP) for the third quarter of 2021 equaled 2.3 percent at an annual rate, which was revised up by 0.2 percent from the prior estimate. The revision largely reflected upward adjustments in consumer spending and private inventory investment. Overall, the lower growth rate in the third quarter was primarily caused by a … [Read more...] about Business Indicators
Business IndicatorsJanuary 2022
The “second” estimate of U.S. real gross domestic product (GDP) for the third quarter of 2021 grew 2.1 percent at an annual rate, which was revised up by 0.1 percent from the previous estimate. The upward revision primarily reflected largerthan-expected consumer spending and private inventory investment. Overall, the disappointing growth in the third quarter largely reflected a … [Read more...] about Business Indicators
Business IndicatorsDecember 2021
The “advance” estimate of U.S. real gross domestic product (GDP) for the third quarter of 2021 only increased 2 percent at an annual rate, much lower than expectations. The weaker-than-expected growth in the third quarter largely reflected a deceleration in consumer spending. U.S. nonfarm employment in October, however, experienced a rebound after two consecutive months of … [Read more...] about Business Indicators
Business IndicatorsAugust 2021
The “third” estimate of U.S. real gross domestic product (GDP) for the first quarter of 2021 grew strongly by 6.4 percent at an annual rate, remaining unchanged from the “second” estimate. According to more complete source data, an upward revision in business investment, including inventory investment was offset by a downward revision in net exports. Overall, the strong … [Read more...] about Business Indicators
Business IndicatorsMarch 2021
The “advance” estimate of U.S. real gross domestic product (GDP) for the fourth quarter of 2020 increased 4.0 percent at an annual rate, after a best-ever gain of 33.4 percent in the third quarter. Personal consumption expenditure and business investment, including private inventory, contributed positively to the real GDP growth, while net exports and government spending … [Read more...] about Business Indicators
Business IndicatorsFebruary 2021
The “third” estimate of U.S. real gross domestic product (GDP) for the third quarter of 2020 increased 33.4 percent at an annual rate, revised up by 0.3 percent from the previous estimate. The upward revision mainly reflected larger-than-expected consumer spending and business investment. Overall, a best-ever gain in real GDP exhibited strong recovery in both consumer spending … [Read more...] about Business Indicators
Business IndicatorsJanuary 2021
The “second” estimate of U.S. real gross domestic product (GDP) for the third quarter of 2020 grew 33.1 percent at an annual rate, unchanged from the previous estimate. Although the rate of the growth remained the same, revisions occurred for several components. That is, upward revisions to non-residential fixed investment and residential investment were offset by downward … [Read more...] about Business Indicators
Business IndicatorsDecember 2020
The “advance” estimate of U.S. real gross domestic product (GDP) for the third quarter of 2020 jumped by a best-ever 33.1 percent at an annual rate, after a worst-ever decline of 31.4 percent in the previous quarter. U.S. nonfarm employment experienced a stronger-than-expected gain, adding 638,000 jobs in October. Retail sales in September rose robustly by 5.4 percent from last … [Read more...] about Business Indicators
Business IndicatorsNovember 2020
The “third” estimate of U.S. real gross domestic product (GDP) for the second quarter of 2020 plummeted 31.4 percent at an annual rate, slightly better than the second estimate of a 31.7 percent annual contraction. The small upward revision reflected a smaller decline in consumer spending, which was partly offset by larger-than-expected decrease in exports and nonresidential … [Read more...] about Business Indicators
Business IndicatorsOctober 2020
The “second” estimate of U.S. real gross domestic product (GDP) for the second quarter of 2020 plunged by 31.7 percent at an annual rate, slightly better than the advance estimate of a 32.9 percent annual contraction. The upward revision reflected smaller declines in private inventory investment and personal consumption expenditure than previously thought. Overall, the … [Read more...] about Business Indicators
Business IndicatorsSeptember 2020
The “advance” estimate of U.S. real gross domestic product (GDP) for the second quarter of 2020 plummeted by 32.9 percent at an annual rate. The substantial contraction in real GDP reflected “stay-at-home” orders to contain COVID-19. Specifically, decreases in consumer spending, nonresidential and residential fixed investment, state and local government spending and private … [Read more...] about Business Indicators
Business IndicatorsAugust 2020
The “third” estimate of U.S. real gross domestic product (GDP) for the first quarter of 2020 contracted by 5.0 percent at an annual rate. The decrease in real GDP was mainly caused by massive shutdowns to contain the coronavirus. U.S. nonfarm employment experienced a stronger-than-expected rebound, adding 4.8 million jobs in June, largely benefitting from a sharp increase of … [Read more...] about Business Indicators
Business IndicatorsJuly 2020
The “second” estimate of U.S. real gross domestic product (GDP) for the first quarter of 2020 contracted by 5.0 percent at an annual rate, lower than the advance estimate of a 4.8 percent contraction. The revision reflected a deeper decrease in private inventory investment, which was partly offset by upward revisions to consumer spending and nonresidential fixed investment. The … [Read more...] about Business Indicators
Business IndicatorsJune 2020
The “advance” estimate of U.S. real gross domestic product (GDP) for the first quarter of 2020 fell by 4.8 percent at an annual rate, the steepest drop since 2008 Q4. The sharp decline reflected the nearly stalled economy due to the COVID-19 pandemic that started in mid-March as state governments issued stay-at-home orders. U.S. nonfarm employment experienced a record … [Read more...] about Business Indicators