Real Gross Domestic Product (Seasonally Adjusted Quarterly Data - Annualized)
Chart of the Week for May 1, 2015 - May 7, 2015
The Bureau of Economic Analysis ("BEA") reported a preliminary estimate of 0.2% growth in real Gross Domestic Product (inflation adjusted "GDP") for the first quarter of 2015 based on seasonally adjusted annualized data. This is down from the 2.2% growth reported for the fourth quarter of 2014, and is lower than the consensus forecast of 1.0%. It is also below the 30-year annual average rate of 2.6% for the third time in the past five quarters. Real GDP growth in the first quarter was hurt by a fall in net exports, as the continued strength of the U.S. dollar impacted the amount of products sold overseas. Lower state and local government spending also had a negative impact on GDP during the quarter.
GDP is one measure of the size or health of a country's economy. GDP is generally defined as the market value of all final goods and services produced within a country in a given period of time. Many economists follow movements in GDP growth rates to assess how quickly or slowly an economy is growing or contracting. GDP is measured including the effect of inflation ("nominal") and after subtracting the effect of inflation ("real"). The chart above compares the annualized real GDP growth rate per quarter.
Posted by: sarah_oz@yahoo.com
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