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Gross Domestic Product: Difference between revisions
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=== Q2 2023 === | === Q2 2023 === | ||
[[File:Screenshot 2023-07-27 142636.png|center|thumb|543x543px|https://www.wsj.com/articles/us-gdp-report-economic-growth-92482437]] | |||
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* 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.''' | * 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. | * 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. | *'''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. | ||
* Consumer spending grew at an annual rate of 1.6% in the second quarter, down from 4.2% growth in the first quarter. | |||
* 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 | * 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 == | ||