Gross Domestic Product

Statistics are valuable in virtually every area of study. The following site discusses many economic statistics and their importance.
How quickly are GDP statistics released? What should the reader look for when reading GDP reports? Two sources that provide answers these and other questions are : GDP: Gross Domestic Product  and GDP.
  1. What is the Source for GDP (that is, who calculates and reports these statistics)?

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  2. When is the GDP statistic reported?

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  3. How often is the GDP statistic revised?

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  4. How important is the GDP statistic?

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  5. What does GDP measure?

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  6. Historically what is the average annual increase in U.S. GDP?

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Now is your chance to gather some information about "Gross Domestic Product."
  1. How did growth in U.S. GDP in the fourth quarter of 2004 compare to growth in GDP in the third quarter of 2004?

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  2. What were the major contributors to the increase in GDP in the fourth quarter of 2004? (i.e., what was/were the strongest component/components of spending in the fourth quarter?

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  3. By how much did personal consumption spending increase in the fourth quarter? How did that compare to the increase in personal consumption spending in the fourth quarter of 2004?

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  4. By how much did government spending change in the fourth quarter of 2004? By how much did government spending change in the third quarter of 2004?

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  5. By how much did national defense spending change in the fourth quarter of 2004? By how much did national defense spending change in the third quarter of 2004?

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  6. What role did exports and imports (net exports) play in the U.S. economy in the fourth quarter?

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  7. By how much did prices change in the fourth quarter of 2004?

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  8. In percentage terms, what was the annual increase in U.S. Real GDP during:
Economists also forecast future GDP growth. A calendar of upcoming economic events is available to those who need it. What are a few of the U.S. statistics that will be (were) reported this week?

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Last updated February 24, 2005

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