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Gross Domestic Product

BUSINESS
February 26, 2005 | From Associated Press
The economy clocked in at a 3.8% pace in the final quarter of 2004 -- faster than initially thought -- and some analysts said it was cruising at that speed or better in the current quarter. In the newest reading on the economy's fitness, the gross domestic product exceeded a previous estimate of a 3.1% annual growth rate for the October-to-December quarter, the Commerce Department reported Friday. GDP measures the value of all goods and services produced within the United States.
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BUSINESS
January 29, 2005 | Joel Havemann, Times Staff Writer
U.S. economic growth, hobbled by lower demand for American goods and services overseas, sagged to an annual rate of 3.1% in the fourth quarter of last year, the government reported Friday. It was the lowest growth rate since the first three months of 2003, the Commerce Department said. Growth in the third quarter was 4%. For all of 2004, however, the department's Bureau of Economic Analysis found that gross domestic product -- the broadest measure of the nation's economic output -- grew by 4.
BUSINESS
December 1, 2004 | From Associated Press
Splurging shoppers helped the economy hum along faster than first thought in the third quarter, but high energy prices could weigh on consumers in the months ahead. Gross domestic product -- the value of goods and services produced within the U.S. -- increased at an annual rate of 3.9% in the July-to-September quarter, the Commerce Department reported Tuesday. "I think the economy has found its groove," said Mark Zandi, chief economist at Economy.com.
BUSINESS
August 28, 2004 | From Reuters
U.S. economic growth slowed more sharply in the second quarter than first thought as oil prices rose and the trade gap swelled, the government said Friday. U.S. gross domestic product, which measures total output within the nation's borders, expanded at a 2.8% annual rate in the second quarter to $10.8 trillion, down from the 3% pace estimated last month by the Commerce Department. The downward revision marked a sharp slowdown from the first quarter's 4.
BUSINESS
August 18, 2004 | From Bloomberg News
Mexico's economy grew in the second quarter at its fastest pace since 2000 on resurgent demand from the U.S. for the country's electronics, oil and metals. Mexican gross domestic product, the broadest measure of output of goods and services, grew 3.9% from the same period last year after expanding 3.7% the previous quarter, the Finance Ministry said Tuesday. Mexico's economy expanded 1.2% from the first quarter in seasonally adjusted terms, the ministry said.
BUSINESS
December 11, 2003 | From Associated Press
The longest economic expansion in U.S. history faltered so much in the summer of 2000 that business output actually contracted for one quarter, the government said Wednesday in releasing a comprehensive revision of the gross domestic product. Based on new data, the Commerce Department said that the GDP -- the value of the country's total output of goods and services -- shrank at an annual rate of 0.5% in the third quarter of 2000.
OPINION
December 1, 2003
A Nov. 26 front-page headline states: "Economy Expands at Fastest Clip Since 1984" and the subheadline reads, in part, "GDP growth is revised up to 8.2%, thanks to business spending." "Oh boy!" the people say. "Let's vote for Bush." But think about it: The gross domestic product is up -- way up -- because it includes the $100 million a day the military-industrial complex is blowing on Iraq and elsewhere. Oh, by the way, the subheadline concludes with: "But hiring remains weak." Don Kurtz Simi Valley
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