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Gross Domestic Product: Difference between revisions
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=== Q1 2023 === | === Q1 2023 === | ||
U.S GDP is grew at a | U.S GDP is grew at a 2.0% annualized pace in Q1 2023, below economists estimate of 2%.<ref>https://www.bea.gov/sites/default/files/2023-04/gdp1q23_adv.pdf</ref> | ||
* The deceleration in real GDP in the first quarter primarily reflected a downturn in private inventory investment and a slowdown in nonresidential fixed investment. | * The deceleration in real GDP in the first quarter primarily reflected a downturn in private inventory investment and a slowdown in nonresidential fixed investment. | ||
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* The price index for gross domestic purchases increased 3.8 percent in the first quarter, compared with an increase of 3.6 percent in the fourth quarter. | * The price index for gross domestic purchases increased 3.8 percent in the first quarter, compared with an increase of 3.6 percent in the fourth quarter. | ||
* The PCE price index increased 4.2 percent, compared with an increase of 3.7 percent. Excluding food and energy prices, the PCE price index increased 4.9 percent, compared with an increase of 4.4 percent. | * The PCE price index increased 4.2 percent, compared with an increase of 3.7 percent. Excluding food and energy prices, the PCE price index increased 4.9 percent, compared with an increase of 4.4 percent. | ||
=== Q2 2023 === | |||
Real gross domestic product (GDP) increased at an annual rate of 2.4 percent in the second quarter of 2023, above economist estimated of 1.8%. <ref>https://www.bea.gov/sites/default/files/2023-07/gdp2q23_adv.pdf</ref> | |||
* The acceleration in GDP in the second quarter primarily reflected an '''upturn in private inventory investment and an acceleration in nonresidential fixed investment. These movements were partly offset by a downturn in exports, and decelerations in consumer spending, federal government spending, and state and local government spending. Imports turned down.''' | |||
* Current-dollar GDP increased 4.7 percent at an annual rate, or $305.2 billion, in the second quarter to a level of $26.84 trillion. In the first quarter, GDP increased 6.1 percent, or $391.8 billion. | |||
* '''The PCE price index increased 2.6 percent, compared with an increase of 4.1 percent'''. Excluding food and energy prices, the PCE price index increased 3.8 percent, compared with an increase of 4.9 percent. | |||
* Current-dollar personal income increased $236.1 billion in the second quarter, compared with an increase of $278.0 billion in the first quarter. Disposable personal income increased $248.2 billion, or 5.2 percent, in the second quarter, compared with an increase of $587.9 billion, or 12.9 percent, in the first quarter | |||
== References == | == References == | ||