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
UNLV Center for Business and Economic Research
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
Economic ForecastBuilding on Nevada’s Strong Economy
As Governor Steve Sisolak looks at the state’s strong economic performance at the dawn of a new decade, he sees it well-positioned to make investments that will create jobs and wealth for years to come. Top economists expect Nevada’s strong performance will continue into the New Year and that optimism, Sisolak says, creates an opportunity to address long-term economic … [Read more...] about Economic Forecast
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 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 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
Business IndicatorsJanuary 2019
The “second” estimate of U.S. real gross domestic product (GDP) for the third quarter of 2018 increased at an annual rate of 3.5 percent. Based on more complete data compared to last month, business investment, including inventory investment, was revised upward, which was offset by smaller estimates of consumer and state and local government spending growth. The overall picture … [Read more...] about Business Indicators
Business Indicators: December 2018
The “first” estimate of U.S. real gross domestic product (GDP) for the third quarter of 2018 increased at an annual rate of 3.5 percent, a 0.7 percentage point drop from the “final” estimate of the second quarter, yet a faster-than-expected growth rate for the third quarter. Overall, positive contributions from personal consumption spending, private inventory investment, … [Read more...] about Business Indicators: December 2018
Business Indicators: November 2018
The “third” estimate of U.S. real gross domestic product (GDP) for the second quarter of 2018 increased at an annual rate of 4.2 percent, which remained unchanged from the “second” estimate. The overall picture of GDP growth did not change based on more complete data except that lower-than-expected private inventory investment was offset by small upward movements from most … [Read more...] about Business Indicators: November 2018
Business Indicators: October 2018
The “second” estimate of U.S. real gross domestic product (GDP) for the second quarter of 2018 rose at an annual rate of 4.2 percent, up by 0.1 percentage point from the prior estimate. The upward revision reflected larger-than-expected business investment, including inventory investment, which was partly offset by smaller-than-expected consumer spending. Real GDP posted the … [Read more...] about Business Indicators: October 2018
Business Indicators: September 2018
The “advance” estimate for U.S. real gross domestic product (GDP) for the second quarter of 2018 expanded by a strong 4.1 percent annualized rate, the fastest pace in almost four years. Consumer spending, which accounts for two-thirds of real GDP, also grew strongly, which probably reflected somewhat the tax cut. U.S. nonfarm employment added a lower-than-expected 157,000 jobs … [Read more...] about Business Indicators: September 2018
Something for Everyone: Tourism in Nevada
Nevada is still finding its place in the modern tourism world, but that isn’t hurting tourism numbers. Fiscal year 2018 was a turbulent year for tourism, in Las Vegas especially, but the year still set records and showed no signs of slowing down. Statewide, shifting consumer interests and demands and diversifying economies are helping drive continued strong tourism … [Read more...] about Something for Everyone: Tourism in Nevada
Business Indicators: August 2018
The “third” estimate for U.S. real gross domestic product (GDP) for the first quarter of 2018 expanded at a 2.0 percent annualized rate, revised down from the second estimate of 2.2 percent. The downward revisions mainly reflected smaller-than-expected private inventory investment and personal consumption expenditure. U.S. nonfarm employment continued its surprising gain by … [Read more...] about Business Indicators: August 2018
Business Indicators: July 2018
The “second” estimate for U.S. real gross domestic product (GDP) for the first quarter of 2018 showed growth at an annual rate of 2.2 percent, down by 0.1 percentage point from the previous estimate of 2.3 percent. The downward revisions reflected smaller private inventory investment, residential fixed investment, and net exports, which were partly offset by a larger … [Read more...] about Business Indicators: July 2018