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Gross domestic product (GDP)

Produced by the Bureau of Economic Analysis, Gross Domestic Product (GDP) data is ranked as one of the three most influential economic measures that affect U.S. financial markets. GDP is the value of the goods and services produced by the nation’s economy less the value of the goods and services used up in production. GDP is also equal to the sum of personal consumption expenditures, gross private domestic investment, net exports of goods and services, and government consumption expenditures and gross investment.

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Real Gross Domestic Product (GDP) Increases in all 50 States in 2nd Quarter of 2018

Blog
The following is a cross-post from the Bureau of Economic Analysis (BEA) Real gross domestic product (GDP) increased in all 50 states and the District of Columbia in the second quarter of 2018, according to statistics released today by the U.S. Bureau of Economic Analysis. The percent change in real GDP in the second quarter ranged from 6.0 percent in Texas to 2.5 percent in Delaware. Information...

Statement from U.S. Secretary of Commerce Wilbur Ross on Q2 2018: U.S. Economy Tops 4% GDP Growth in Second Quarter

Press releases
Today, the Department of Commerce’s Bureau of Economic Analysis (BEA) released the second quarter Gross Domestic Product (GDP) numbers. The Bureau found that the real gross domestic product increased at an annual rate of 4.1% in the second quarter of 2018. U.S. Secretary of Commerce Wilbur Ross issued the following statement on the announcement: “Today’s release of the United States’ GDP growth of...

Bureau of Economic Analysis Releases for the First Time Prototype Statistics Measuring the Economic Effects of Outdoor Recreation

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Americans who hit the trails to ski, bike or hike aren’t just working up a sweat; they’re also generating economic activity. Outdoor recreation accounted for 2.0 percent of the U.S. economy, or $373.7 billion, in 2016, according to prototype statistics for the Bureau of Economic Analysis’ newest special account. The outdoor recreation economy grew 3.8 percent in 2016, compared with the overall U.S...

Positive Economic Growth Continues, Unemployment Rate Lowest in 17 Years

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Today, the U.S. Department of Labor’s Bureau of Labor Statistics (BLS) announced that 228,000 jobs were added to the American economy in November, and 1.7 million jobs have been added since January of this year. This marks a 17-year low for unemployment at 4.1%. In addition, the unemployment rate in manufacturing dropped to 2.6% – the lowest rate recorded since BLS began measuring it in 2000. Last...

U.S. Economy Grows Faster than Expected in 3rd Quarter

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The Bureau of Economic Analysis (BEA) announced that the U.S. economy grew at a 3.3 percent pace in their third quarter of 2017 – faster than their initial estimate of 3.0 percent . More from BEA : GDP Increases in Third Quarter Real gross domestic product (GDP) increased 3.3 percent in the third quarter of 2017, according to the “second” estimate released by the Bureau of Economic Analysis. In...

U.S. Economy Grew At 3% Pace For 2nd Straight Quarter

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The Bureau of Economic Analysis (BEA) announced today that the U.S. economy grew at 3.0 percent pace in the third quarter of 2017 . This is the second straight quarter that the economy grew at a 3 percent pace – BEA's third estimate for the second quarter showed that the U.S. economy grew at a 3.1 percent pace . The last time the economy grew at a 3 percent pace for two consecutive quarters was...

Statement from U.S. Secretary of Commerce Wilbur Ross on Q3 2017 Three Percent Economic Growth

Press releases
"Today’s release of the gross domestic product growth for Q3 2017 proves that President Trump’s bold agenda is steadily overcoming the dismal economy inherited from the previous Administration. This is a remarkable achievement in view of the recent hurricanes which have shattered so many lives. As we work together to help those areas recover, I am confident that they will rebound stronger than...

Increased Exports and Consumer Spending Lead to Economic Growth in Second Quarter

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Real gross domestic product (GDP) increased 3.0 percent in the second quarter of 2017, according to the “second” estimate released by the Bureau of Economic Analysis. The growth rate was 0.4 percentage point more than the “advance” estimate released in July. In the first quarter, real GDP increased 1.2 percent. The second‐quarter increase in real GDP reflected increases in both consumer spending...

Release of Gross Domestic Product by State: Fourth Quarter and Annual 2016 Numbers Throw Obama and Trump Administration Energy Policies into Sharp Contrast

Press releases
Data on the Fourth Quarter and Annual 2016 GDP by State released today by the Department of Commerce showed some states’ gross domestic product (GDP) to have been impeded by the policies of the Obama Administration, especially in the energy sector. “The Obama presidency left large swaths of our economy in shambles.” said Secretary Ross “Thankfully, the Trump Administration is unshackling our...

Statement from U.S. Secretary of Commerce Wilbur Ross on the GDP Growth in the First Quarter of 2017

Press releases
U.S. Secretary of Commerce Wilbur Ross issued the following statement today on the release of the real gross domestic product (GDP) quarterly growth by the Department of Commerce. In the first quarter of 2017, the GDP increased 0.7 percent, according to the advance estimate released. Since the first quarter of 2016, the year-over-year increase in real GDP was 1.9 percent. The increase in real GDP...