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 ›
Tag Archive for ‘macroeconomics’
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 ›
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 ›
Texas Led GDP Growth in the Third Quarter of 2019
Real gross domestic product (GDP) increased in 49 states and the District of Columbia, in the third quarter 2019 compared to the previous quarter. Delaware recorded no change during this time. The U.S. Bureau of Economic Analysis reported the real GDP growth rates, measured on a seasonally adjusted annual rate basis, ranged from 4.0% in Texas to 0.4% in Hawaii. Nationwide,… Read More ›