The “second” estimate of U.S. real gross domestic product (GDP) for the second quarter of 2021 grew 6.6 percent at an annual rate, revised up slightly by 0.1 percent from the “advance” estimate. The strong growth in the second quarter largely reflected a strong surge in consumer spending, which was boosted by significant injections of federal relief money. The leisure and … [Read more...] about Business Indicators
Business Indicators
Business IndicatorsSeptember 2021
The “advance” estimate of U.S. real gross domestic product (GDP) for the second quarter of 2021 grew strongly, but lower-than-expected, at an annual rate of 6.5 percent. As a result, the real GDP has now fully recovered from the COVID pandemic recession and surpassed its pre-pandemic peak. The strong growth largely reflected a 11.8 percent surge in consumer spending, which was … [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 IndicatorsJuly 2021
The “second” estimate of U.S. real gross domestic product (GDP) for the first quarter of 2020 experienced a strong gain of 6.4 percent at an annual rate, remaining unchanged from the previous estimate. Downward revisions in net exports and private inventory investment offset upward revisions in consumer spending and nonresidential fixed investment. Overall, the strong recovery … [Read more...] about Business Indicators
Business IndicatorsJune 2021
The “advance” estimate of U.S. real gross domestic product (GDP) for the first quarter of 2020 experienced a strong gain of 6.4 percent at an annual rate, bringing the gap from the pre-pandemic peak to within one percent. This strong recovery was boosted by a surge in consumer spending that probably incorporated the second and third stimulus checks. In addition, government … [Read more...] about Business Indicators
Business IndicatorsMay 2021
The “third” estimate of U.S. real gross domestic product (GDP) for the fourth quarter of 2020 increased 4.3 percent at an annual rate, revised up by 0.2 percent from the previous estimate. This reflected larger private inventory investment than previously reported, which was partly offset by a downward revision in nonresidential fixed investment. Retail sales in February were … [Read more...] about Business Indicators
Business IndicatorsApril 2021
The “second” estimate of U.S. real gross domestic product (GDP) for the fourth quarter of 2020 climbed 4.1 percent at an annual rate. Overall, the increase in real GDP benefitted from robust recovery in consumer spending and business investment, while net exports and government spending contributed negatively to growth. U.S. nonfarm employment posted a stronger-than-expected … [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
Business IndicatorsMay 2020
The “third” estimate of U.S. real gross domestic product (GDP) for the fourth quarter of 2019 rose at an annual rate of 2.1 percent. U.S. nonfarm employment lost 701,000 jobs in March with a notable decline of 459,000 jobs in the leisure and hospitality sector. Since these figures are based on the first two weeks of March, they only reflected the early effects of the … [Read more...] about Business Indicators
Business IndicatorsApril 2020
The “second” estimate of U.S. real gross domestic product (GDP) for the fourth quarter of 2019 matched the “advance” estimate, growing at a robust 2.1 percent annualized rate. According to more complete source data, private inventory investment was revised upward, which was offset by a downward revision of nonresidential fixed investment. Overall, consumer and government … [Read more...] about Business Indicators
Business IndicatorsMarch 2020
The “advance” estimate of U.S. real gross domestic product (GDP) for the fourth quarter of 2019 grew at an annual rate of 2.1 percent for the second consecutive quarter. As a result, the U.S. economy expanded by 2.3 percent in 2019. Despite slowed consumer spending, the U.S. economy expanded, boosted by net exports, which rebounded strongly after two consecutive quarters of … [Read more...] about Business Indicators