The “advance” estimate of U.S. real gross domestic product (GDP) for the second quarter of 2022 continued to shrink for the second straight quarter, down by 0.9 percent at an annual rate. The decline largely reflected a drop in private inventory investment which was led by a slowdown in retail trade. Consumer spending, which accounts for roughly 70 percent of GDP, continued to … [Read more...] about Business Indicators
Business Indicators
Business IndicatorsAugust 2022
The “third” estimate of U.S. real gross domestic product (GDP) for the first quarter of 2022 shrank by 1.6 percent at an annual rate, revised down by 0.1 percent from the second estimate. The revision reflected a downward adjustment in consumer spending, partly offset by an upward adjustment in private inventory investment. U.S. nonfarm employment experienced a … [Read more...] about Business Indicators
Business IndicatorsJuly 2022
The “second” estimate of U.S. real gross domestic product (GDP) for the first quarter of 2022 shrank by 1.5 percent at an annual rate, revised down by 0.1 percent from the advance estimate. The revision reflected lower-than-expected private inventory and residential investments, which were partly offset by an upward revision in consumer spending. U.S. nonfarm employment … [Read more...] about Business Indicators
Business IndicatorsJune 2022
The “advance” estimate of U.S. real gross domestic product (GDP) for the first quarter of 2022 unexpectedly fell by 1.4 percent at an annual rate, the first decline since the COVID pandemic recession. The decline largely reflected a decrease in government spending and a huge trade deficit caused by a drop in exports and a surge in imports. U.S. nonfarm employment posted a … [Read more...] about Business Indicators
Business IndicatorsMay 2022
The “third” estimate of U.S. real gross domestic product (GDP) for the fourth quarter of 2021 expanded by 6.9 percent at an annual rate, which was revised down by 0.1 percent from the previous estimate. The revision mainly reflected downward revisions to consumer consumption and exports, which were partly offset by a larger private inventory investment than previously reported. … [Read more...] about Business Indicators
Business IndicatorsApril 2022
The “second” estimate of U.S. real gross domestic product (GDP) for the fourth quarter of 2021 grew by 7.0 percent at an annual rate, which was revised up by 0.1 percent from the previous estimate. The revision primarily involved upward revisions in both non-residential and residential fixed investment and state and local government spending, which were partly offset by reduced … [Read more...] about Business Indicators
Business IndicatorsMarch 2022
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 IndicatorsNovember 2021
The “third” estimate of U.S. real gross domestic product (GDP) for the second quarter of 2021 expanded 6.7 percent at an annual rate. 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. U.S. nonfarm employment showed a disappointing gain, adding only 194,000 jobs in … [Read more...] about Business Indicators
Business IndicatorsOctober 2021
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 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