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Gross Domestic Product

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.
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.
July 31, 2004 | Bill Sing, Times Staff Writer
The nation's economy slowed sharply in the second quarter, the government reported Friday, renewing concerns about whether modest expansion might persist and dampen job creation. The less-than-expected 3% annualized growth rate in gross domestic product -- the value of all goods and services produced in the U.S. -- was the slowest in more than a year, the Commerce Department said. The relatively modest April-June performance was affected primarily by consumers closing their pocketbooks.
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
September 15, 2003 | From Reuters
Vice President Dick Cheney said Sunday that the United States had "turned the corner" to economic recovery and he expected gross domestic product growth next year of 4% or better. On NBC's "Meet the Press" program, Cheney also said the administration expected to cut the federal deficit "roughly in half" from next year's level in the coming five years. "Going into next year, we anticipate ... growth on the order of 4% or better in GDP," Cheney said.
August 12, 2003 | Yuri Kageyama, Associated Press
Japan's economy expanded for the sixth straight quarter, growing 0.6% in the three months through June, but analysts warned against too much optimism about the weak recovery gaining more momentum.
March 1, 2003 | Peter G. Gosselin, Times Staff Writer
The nation's economy grew at a 1.4% annual rate in the final three months of last year as businesses replenished inventories and consumer purchases were higher than previously thought, the Commerce Department said Friday. The fourth-quarter growth was twice the pace that the department estimated last month and showed that the economy was not as weak as the original 0.7% estimate suggested. But analysts were hardly rushing to raise their forecasts for this year.
January 31, 2003 | Peter G. Gosselin, Times Staff Writer
The American economy grew at a mere 0.7% pace last fall, the Commerce Department said Thursday, as consumers slowed their spending amid renewed fears over job security, stock declines and the prospect of war with Iraq. The economy's weak performance from October to December brought to 2.4% the growth rate for 2002, according to Commerce. That's an improvement on 2001's 0.3% growth rate but nothing like the snapback that some economists had been forecasting.
New measures released Wednesday show that the nation's economic recovery--which seemed so dazzling in the immediate aftermath of last year's terror attacks--is stumbling. The gross domestic product, which measures the economy's total output of goods and services, grew at only a 1.1% annual rate in the spring, according to new figures from the Commerce Department. That was less than half what had been expected and substantially less than the 5% pace of earlier this year.
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