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 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
Business IndicatorsFebruary 2020
The “third” estimate of U.S. real gross domestic product (GDP) for the third quarter of 2019 grew at an annual rate of 2.1 percent. Overall, strong consumer spending primarily drove real GDP growth in the third quarter, and weaker business investment and imports slowed real GDP growth. U.S. nonfarm employment added a less-than-expected 145,000 jobs in December. The employment … [Read more...] about Business Indicators
Business IndicatorsJanuary 2020
The “second” estimate of U.S. real gross domestic product (GDP) for the third quarter of 2019 expanded at a 2.1 percent annualized rate, revised up by 0.2 percent from the advance estimate of 1.9 percent. The upward revisions reflected less negative business investment, including inventory investment and more positive consumer spending than previously thought, which were partly … [Read more...] about Business Indicators
Business IndicatorsDecember 2019
The “advance” estimate of U.S. real gross domestic product (GDP) for the third quarter of 2019 increased by 1.9 percent at an annualized rate. Residential investment, which experienced six consecutive quarters of losses, finally rebounded and also contributed positively to the real GDP growth. U.S. nonfarm employment gained 128,000 jobs in October with large losses in the … [Read more...] about Business Indicators
Business IndicatorsNovember 2019
The “third” estimate of U.S. real gross domestic product (GDP) for the second quarter of 2019 increased by 2 percent at an annualized rate, unchanged from the “second” estimate. Overall, the slower real GDP growth in the second quarter compared to the first quarter mainly reflected weaker business investment (including inventory investment) and net exports, while strong … [Read more...] about Business Indicators
Business IndicatorsOctober 2019
The “second” estimate of U.S. real gross domestic product (GDP) for the second quarter of 2019 grew by 2.0 percent at an annualized rate, down by 0.1 percentage point compared to the “advance” estimate of 2.1 percent. The overall economic picture of economic growth remained the same. Stronger consumer spending, which showed its fastest growth in nearly four years by rising by … [Read more...] about Business Indicators
Business IndicatorsSeptember 2019
The “advance” estimate of U.S. real gross domestic product (GDP) for the second quarter of 2019 increased modestly, up by 2.1 percent at an annualized rate. The real GDP increase largely reflected strong consumer spending, rising by 4.3 percent, its fastest growth in nearly two years. Government spending also grew at its fastest pace in a decade and contributed positively to … [Read more...] about Business Indicators
Business IndicatorsAugust 2019
The “third” estimate of U.S. real gross domestic product (GDP) for the first quarter of 2019 remained unchanged, up by 3.1 percent at an annualized rate, from the “second” estimate. U.S. nonfarm employment rebounded sharply after a disappointing gain in May, adding 224,000 jobs in June. Big gains occurred in the professional and business services and healthcare sectors. The … [Read more...] about Business Indicators
Business IndicatorsJuly 2019
The “second” estimate of U.S. real gross domestic product (GDP) for the first quarter of 2019 was revised down by a 0.1 percentage point to 3.1 percent at an annualized rate compared to the “advance” estimate. The overall picture of economic growth remained the same. The real GDP growth relied largely on temporary factors such as higher private business inventories and reduced … [Read more...] about Business Indicators
Business IndicatorsJune 2019
The “advance” estimate of U.S. real gross domestic product (GDP) for the first quarter of 2019 increased unexpectedly by 3.2 percent at an annualized rate. Although the growth rate marked its fastest first quarter increase since 2015, the overall real GDP growth included some temporary factors – reduced imports and higher private business inventories. Thus, the unexpected gain … [Read more...] about Business Indicators
Business IndicatorsMay 2019
The “third” estimate of U.S. real gross domestic product (GDP) for the fourth quarter of 2018 was revised downward by 0.4 percentage points to 2.2 percent at an annualized rate compared to the “initial” estimate. The total nonfarm employment in January and February was revised up, which resulted an additional gain of 14,000 jobs than previously reported. Retail sales in … [Read more...] about Business Indicators
Business IndicatorsApril 2019
The “initial” estimate of U.S. real gross domestic product (GDP) for the fourth quarter of 2018 produced an annual growth rate of 2.6 percent. Overall, the economy expanded by 2.9 percent in 2018, the strongest growth since 2015, while the trade deficit climbed to the highest level since the Great Recession. Average hourly earnings growth rebounded from 3.1 percent growth in … [Read more...] about Business Indicators
Business IndicatorsMarch 2019
The “third” estimate of the growth rate of U.S. real gross domestic product (GDP) for the third quarter of 2018 fell by 0.1 percent to an annual rate of 3.4 percent compared to the “second” estimate. The revision reflected smaller-than-expected personal consumption expenditure and net exports, which a larger-than-expected private inventory investment partly offset. The overall … [Read more...] about Business Indicators
Business IndicatorsFebruary 2019
The “third” estimate of the growth rate of U.S. real gross domestic product (GDP) for the third quarter of 2018 fell by 0.1 percent to an annual rate of 3.4 percent compared to the “second” estimate. The revision reflected smaller-than-expected personal consumption expenditure and net exports, which a larger-than-expected private inventory investment partly offset. U.S. nonfarm … [Read more...] about Business Indicators