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Econ News You Can Use
Category: GDP
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New data from the Bureau of Economic Analysis (BEA) today shows positive real GDP growth in the first quarter of 2023. The BEA estimates that real GDP grew at a 2.0% annual rate in the first quarter. This means three straight quarters of growth, even while economists have been bracing for recession as the Federal…
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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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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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This morning, the BEA released the GDP estimates for last year. The headline figure is the advance estimate of GDP for the fourth quarter of 2017. Real GDP, inflation, unemployment and the labor force participation rate will be the main statistics that we will follow this semester. After taking into account two strong quarters and…
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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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This morning, the BEA released its advance estimate of GDP data for the first quarter of 2017. Real GDP growth is estimated at just 0.7 percent. Remember that this first estimate is rough and has lately been subject to upward revisions. Still, this estimate implies that the U.S. economy is really just sputtering along. …
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The advance GDP estimate for 2016 is sobering but also an opportunity to learn a little about the details of how we measure GDP. Let's look at the headline data first and then circle back for a quick lesson in GDP accounting. Overall, GDP in the fourth quarter grew at just 1.9 percent, according to…
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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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