Tag Archive for ‘gdp’

State-Level GDP in 2020

Real gross domestic product (GDP) decreased in all 50 states and the District of Columbia in 2020 compared to 2019 as a result of widespread economic shutdown due to COVID-19. According to the U.S. Bureau of Economic Analysis (BEA), the percent change in real GDP ranged from 0.1 percent decline in Utah to 8.0 percent decline in Hawaii. Nationwide, growth in… Read More ›

U.S. GDP Expanded in the Fourth Quarter

The U.S. economy continued to grow in the fourth quarter of 2020 but was remained below pre-recession levels. This quarter’s growth reflected both the economic recovery from the current recession and the ongoing impact of the COVID-19 pandemic. According to the “advance” estimate  released by the Bureau of Economic Analysis (BEA), real gross domestic product (GDP) increased at an annual… Read More ›

Sharp Rebound in Real GDP in All States and D.C. in the Third Quarter of 2020

Real gross domestic product (GDP) increased in all 50 states and the District of Columbia, in the third  quarter of 2020 compared to the previous quarter. The U.S. Bureau of Economic Analysis reported real GDP growth rates, measured on a seasonally adjusted annual rate basis, ranged from 52.2% in Nevada to 19.2% in the District of Columbia. Nationwide, real GDP growth… Read More ›

Open-Ended Credit Rebounds in Third Quarter

The Federal Reserve’s latest G.19 Consumer Credit Report shows trends in consumer credit, excluding loans secured by real estate, through September 2020. In the third quarter of 2020, consumer credit increased at a seasonally adjusted annual rate of 2-1/4 percent, while nonrevolving credit increased by 4 percent and revolving credit decreased by 2-1/2 percent. In September, consumer credit increased at… Read More ›

U.S. GDP Rebounded in the Third Quarter

The U.S. economy rose at the fastest rate on record in the third quarter of 2020 as the economy recovery took hold. Real GDP in the third quarter was close to the pre-recession level, but further recovery is needed. According to the “advance” estimate  released by the Bureau of Economic Analysis (BEA), real gross domestic product (GDP) increased at an… Read More ›

Sharp Decline in Real GDP in All States: 2Q20

Real gross domestic product (GDP) decreased in all 50 states and the District of Columbia, in the second quarter of 2020 compared to the previous quarter, as a result of reflecting “stay-at-home” orders across the country due to COVID-19. The U.S. Bureau of Economic Analysis reported the real GDP growth rates, measured on a seasonally adjusted annual rate basis, ranged from… Read More ›

U.S. GDP Contracted 32.9% in the Second Quarter

The U.S. economy fell at its fastest pace on record in the second quarter of 2020 as economic activities were canceled or restricted amid the COVID-19 pandemic. The economy will start to bounce back as restrictions are lifted and economic activities increase. According to the “advance” estimate  released by the Bureau of Economic Analysis (BEA), real gross domestic product (GDP)… Read More ›

GDP Decreases in All States and D.C. in the First Quarter of 2020

Real gross domestic product (GDP) decreased in all 50 states and the District of Columbia, in the first quarter of 2020 compared to the last quarter of 2019, as a result of the widespread shutdowns across the country due to COVID-19. The U.S. Bureau of Economic Analysis reported the real GDP growth rates, measured on a seasonally adjusted annual rate basis,… Read More ›

GDP Declines for First Time Since 2014

The U.S. economy declined in the first quarter of 2020 due to the impact of the COVID-19 pandemic. Consumer spending, gross private domestic investment, exports and imports all decreased. According to the “advance” estimate  released by the Bureau of Economic Analysis (BEA), real gross domestic product (GDP) decreased at an annual rate of 4.8% in the first quarter of 2020,… Read More ›

Southwest Led GDP Growth In 2019

Real gross domestic product (GDP) increased in all 50 states and the District of Columbia in 2019 compared to 2018, according to the U.S. Bureau of Economic Analysis (BEA). The percent change in real GDP ranged from 4.4 percent in Texas to 0.6 percent in Nebraska. Nationwide growth in GDP, measured on a seasonally adjusted annual rate basis, reached 2.3 percent… Read More ›