What was the real GDP in 2013?
Current-dollar GDP increased 3.4 percent, or $558.4 billion, in 2013, compared with an increase of 4.6 percent, or $710.8 billion, in 2012. During 2013 (that is, measured from the fourth quarter of 2012 to the fourth quarter of 2013) real GDP increased 2.7 percent.
What is GDP BEA?
GDP is the signature piece of BEA’s National Income and Product Accounts, which measure the value and makeup of the nation’s output, the types of income generated, and how that income is used. BEA also estimates GDP for states, metropolitan areas, counties, and U.S. territories. We publish GDP by industry, as well.
What was the nominal GDP in 2012?
Current-dollar GDP increased 4.0 percent, or $600.3 billion, in 2012, compared with an increase of 4.0 percent, or $576.8 billion, in 2011. During 2012 (that is, measured from the fourth quarter of 2011 to the fourth quarter of 2012) real GDP increased 1.5 percent. Real GDP increased 2.0 percent during 2011.
Is BEA Gov credible?
The Bureau of Economic Analysis, made up entirely of career civil servants, is the world’s trusted, impartial source of comprehensive data about the U.S. economy.
What is the difference between real GDP and nominal GDP?
Real GDP tracks the total value of goods and services calculating the quantities but using constant prices that are adjusted for inflation. This is opposed to nominal GDP that does not account for inflation.
How are nominal GDP and real GDP related?
Nominal GDP is the market value of goods and services produced in an economy, unadjusted for inflation. Real GDP is nominal GDP, adjusted for inflation to reflect changes in real output. Trends in the GDP deflator are similar to changes in the Consumer Price Index, which is a different way of measuring inflation.
What was the nominal GDP for 2021?
Current-dollar GDP increased 10.0 percent, or $2.10 trillion, in 2021 to a level of $22.99 trillion, in contrast to a decrease of 2.2 percent, or $478.9 billion, in 2020 (tables 1 and 3).
How many recessions have we had since 1945 and in what years?
Starting with an eight-month slump in 1945, the U.S. economy has weathered 12 different recessions since World War II and up until the COVID-19 pandemic, which ended the longest period of economic expansion on record.
Where does BEA get their data?
Source Data BEA receives data from a variety of reliable sources. Most of the data, however, come from over 360 surveys and other data collections sponsored by other Federal agencies, that is, from statistical agencies, aggregate tax data sources, administrative and regulatory sources, and private trade sources.
Who is the chief economist for the BEA?
Dennis J. Fixler
Dennis J. Fixler, Chief Economist | U.S. Bureau of Economic Analysis (BEA)
How much did real GDP increase in Q3 2021?
Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the third quarter of 2021, following an increase of 6.7 percent in the second quarter. The increase was revised up 0.1 percentage point from the “advance” estimate released in October.
What’s new at the Bureau of Economic Analysis?
The U.S. Bureau of Economic Analysis has updated its regional economic modeling system used by local planners, investors, and policymakers. This tool can help assess the potential economic effects of a new corporate headquarters, a highway project, or new regulations.
When will the GDP data be released?
Current release: June 24, 2021 Next release: July 29, 2021 Gross Domestic Product (Third Estimate), GDP by Industry, and Corporate Profits (Revised), 1st Quarter ’21
What is GDP (Gross Domestic Product)?
Gross Domestic Product GDP is a comprehensive measure of the U.S. economy and its growth