LeeCoppock.com
Econ News You Can Use
Category: Economic Growth
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Real GDP grew at a robust 6.9% in the fourth quarter of 2021, according to the advance estimate from the BEA. Combined with growth from the first three quarters, this means 5.7% for the entire year 2021. The graph below shows that real GDP is now almost all the way back to its pre-COVID path.…
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Today's jobs report from the BLS is a dose of much-needed good news. The unemployment rate dropped again to 4.6 percent. More importantly, 531,000 new jobs were added (to nonfarm employment). The graph below shows monthly growth in nonfarm employment in this calendar year. After robust growth in the summer months, fewer jobs were added…
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Real GDP grew at just 2% in the third quarter, after consecutive quarters of more than 6% growth. New data released from the BEA confirms that the Delta variant of COVID-19 significantly slowed the return to normal economic growth. The Figure below compares real GDP with a trend line based on growth since 2010. As…
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The latest jobs report brings news of lower unemployment and a growth in jobs in August. The unemployment rate for August, ticked down to 5.2% and nonfarm employment increased by 235 thousand jobs. In normal times, this would be great news. But these are not normal times. We can't celebrate over this news because it…
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For the first time since 2014, real GDP in the U.S. grew at 3% or better for two consecutive quarters. This is based on the advanced estimate for real GDP growth for the third quarter of 2017 released today by the BEA. This is a positive sign especially considering that real GDP per capita since…
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GDP growth continues to disappoint. Today's advance estimate from the BEA pegs real GDP growth at just 1.22% in the second quarter. Further, the new report revises the first quarter rate down to just 0.8 percent. Ooof. The graph below shows quarterly growth rates in real GDP since the beginning of 2006. Before…
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This morning, the BEA released the Advance Estimate of GDP for 2015, and boy is it disappointing. Keep in mind that this estimate is early and will be revised over the next few months. But still, 0.7% growth for the fourth quarter is positively pedestrian. In addition, with all four quarters now in, the overall…
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Should we ditch macroeconomics or perhaps reduce it to two weeks? In a recent blog post, Noah Smith argues that most of the material in a Principles of Macroeconomics class isn’t really necessary. After teaching macro principles to more than 1,000 students per year since 2003, it is easy for me to find the blind…
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The latest GDP release from the BEA estimates that U.S.real GDP grew at 1.5% in the third quarter of 2015. This is just a mediocre growth rate but revisions to second quarter data have now increased the final growth estimate to a robust 3.9 percent. Recall that inventory is part of investment expenditures in…
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Today, the BEA released their first (Advance) GDP estimate for the second quarter of 2015, estimating real GDP growth of 2.3%. These figures will be revised over the next few months, but for now, they indicate positive but pedestrian growth below the long-run historical average of 3%. The graph below shows quarterly real GDP growth…
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