Key Economic Indicators
U.S Gross Domestic Product (GDP)
U.S. GDP: Gross Domestic Product is the market value of all final goods and services produced by labor and property located within the U.S. Real GDP is the market value of all final goods and services produced within the U.S. as adjusted for inflation. Real GDP is calculated by dividing nominal GDP by a price index. Real GDP, as shown in the chart below is expressed in terms of billions of 1996 dollars.
GDP increased at an annual rate of only 0.9% in the third quarter of 2004. The major factors contributing to the growth measured in the third quarter were personal consumption expenditures, equipment and software, residential fixed investment, and exports.
GDP is estimated to have increased by 0.8% (annual rate) in the second quarter of 2003 after increasing by 3% in the first quarter of 2004. Real GDP grew by 1.6% in the third quarter of 2004, following a 1.2% increased in the second quarter of 2004. Recent GDP data demonstrate another slow down trend after the recovery signs early 2003 following the economic slow-down experienced during 2000-2002. Sustained recovery, however, has yet to be realized.
