The second estimate of U.S. real gross domestic product (GDP) for 2023Q3 expanded at an annual rate of 5.2 percent, revised up by 0.3 percentage points compared to the advance estimate. The remarkable increase in real GDP mainly reflected strong consumer spending, as well as increased activity in business investment especially in inventory investment driven by expanding … [Read more...] about Business Indicators
Business Indicators
Business IndicatorsDecember 2023
The first estimate of U.S. real gross domestic product (GDP) for 2023Q3 had an annualized growth rate of 4.9 percent, a significant increase above recent quarters. Consumer spending soared, particularly in services such as housing, utilities, healthcare, financial services, insurance and food, as well as in goods, notably non-durable items like prescription drugs and … [Read more...] about Business Indicators
Business IndicatorsNovember 2023
The third estimate of U.S. real gross domestic product (GDP) for 2023Q2 remained unchanged from the second estimate reported last month, with an annualized expansion of 2.1 percent. The third estimate update was shaped by a decrease in consumer spending and imports, alongside upward revisions in nonresidential fixed investment, exports, and inventory investment, mitigating the … [Read more...] about Business Indicators
Business IndicatorsSeptember 2023
The second estimate of U.S. real gross domestic product (GDP) for 2023Q2 expanded by an annualized 2.1 percent, revised down by 0.3 percent from the advance estimate reported last month. The downward revision mostly reflected lower business investment than previously expected, which was partly offset by larger-than-expected government spending. Overall, the real GDP for 2023Q2 … [Read more...] about Business Indicators
Business IndicatorsSeptember 2023
The advance estimate of U.S. real gross domestic product (GDP) for 2023 Q2 expanded by an annualized 2.4 percent, exceeding expectations that the economy would slow down due to higher-interest rates. The real GDP growth largely reflected a strong rebound in business investment as well as increases in consumer spending. Seasonally adjusted U.S. nonfarm employment added … [Read more...] about Business Indicators
Business IndicatorsAugust 2023
The third estimate of U.S. real gross domestic product (GDP) for 2023Q1 grew by an annualized 2.0 percent, revised up by 0.7 percent from the second estimate reported last month. The real GDP’s upward revision mainly reflected stronger-consumer spending in services and exports, partly offset by downward revisions in business investment and federal government … [Read more...] about Business Indicators
Business IndicatorsJuly 2023
The second estimate of U.S. real gross domestic product (GDP) for 2023Q1 grew by an annualized 1.3 percent, revised up by 0.2 percent from the advance estimate reported in the previous month. The upward revision in real GDP primarily reflected a smaller decrease in business inventories, which mainly contributed to slower growth in real GDP for 2023Q1. Seasonally adjusted … [Read more...] about Business Indicators
Business IndicatorsJune 2023
The advance estimate of U.S. real gross domestic product (GDP) for 2023Q1 increased by an annualized 1.1 percent, slowing from 2.6 percent in 2022Q4 amid rising interest rates. The weaker real GDP increase mainly reflected reduced business inventories, which were offset by robust consumer spending. Consumer spending lost momentum for the last few months, which may signal a … [Read more...] about Business Indicators
Business IndicatorsMay 2023
The third estimate of U.S. real gross domestic product (GDP) for 2022 Q4 expanded by 2.6 percent annualized rate, falling by 0.1 and 0.3 percent from the second and advanced estimates, respectively. Overall, the real GDP increase reflected increases in business inventories, consumer spending on services, and government spending, which were partly offset by decreases in business … [Read more...] about Business Indicators
Business IndicatorsApril 2023
The second estimate of U.S. real gross domestic product (GDP) for 2022 Q4 grew by an annualized 2.7 percent, falling by 0.2 percent from the advance estimate released at the end of January. The 2.7-percent real GDP increase reflected restocked inventories and robust consumer spending on services, which were partly offset by decreases in business investment and consumer spending … [Read more...] about Business Indicators
Business IndicatorsMarch 2023
The advance estimate of U.S. real gross domestic product (GDP) for 2022Q4 expanded robustly by an annualized 2.9 percent, which caused 2022 real GDP to increase by 2.1 percent. The real GDP increase largely reflected restocked inventories and increased consumer spending, which the fall in business investment partly offset. Although consumer spending in 2022Q4 experienced a … [Read more...] about Business Indicators
Business IndicatorsFebruary 2023
The third estimate of U.S. real gross domestic product (GDP) for the third quarter of 2022 expanded by an annual 3.2 percent, up by 0.3 percent from the second estimate. While unsustainably strong net exports remained the main contributor to the real GDP gain, the upward revision also reflected larger-than-expected rise in consumer spending and a smaller-than-expected decline … [Read more...] about Business Indicators
Business IndicatorsJanuary 2023
The second estimate of U.S. real gross domestic product (GDP) for the third quarter of 2022 grew by an annual 2.9 percent, up by 0.3 percent from the advance estimate. The upward revision largely reflected a smaller- decline in business investment, but unsustainably strong net exports mainly drove the real GDP gain. U.S. nonfarm employment continued to increase, adding 263,000 … [Read more...] about Business Indicators
Business IndicatorsDecember 2022
The third estimate of U.S. real gross domestic product (GDP) for the third quarter of 2022 rebounded, increasing 2.6 percent at an annual rate, after two consecutive quarters of declines. The robust rebound was largely due to unsustainably strong net exports. Consumer spending on services and government spending also contributed positively to the real GDP growth. Business … [Read more...] about Business Indicators
Business IndicatorsNovember 2022
The third estimate of U.S. real gross domestic product (GDP) for the second quarter of 2022 remained down by 0.6 percent at an annual rate, unchanged from the second estimate. Overall, the decrease in real GDP in the second quarter largely reflected reduced private inventory investment and residential fixed investment, which was partly offset by increased consumer spending on … [Read more...] about Business Indicators