In this week’s Economic Report, Dr. Rick Harper discusses the latest Gross Domestic Product. The GDP report released last week was the second of three estimates for the second quarter. “The good news is that it’s up relative to the initial estimate,” says Harper.
The initial estimate had been 4 percent. The revised rate is 4.2% GDP growth. The biggest gains were in the areas of consumer spending, exports, and business investment spending.
In this week’s Economic Report, Dr. Rick Harper, assistant vice president of economic development at the University of West Florida, discusses the latest jobless claims report.
The U.S. Department of Labor report for the week ended Aug. 23 showed that the number of Americans filing new claims for unemployment benefits fell for a second straight week last week to 298,000, with a four-week average at 299,750.
In this week’s Economic Report, Dr. Rick Harper discusses the latest report from the International Monetary Fund (IMF) projecting economic growth for 2014.
“It’s down somewhat...and a little disappointing” says Harper, noting IMF’s world GDP growth forecast of 3.4 percent for the remainder of the year. That's a little better than the 3.2% the world economy managed in 2013. However, their April forecast had been 3.6%. “So it’s a slight slowdown and we’re seeing that in a couple of different countries.”
In this week’s Economic Report, Dr. Rick Harper discusses the latest first quarter revision of the gross domestic product (GDP). According to the Bureau of Economic Analysis, GDP shows a 2.9% drop in the annual rate in January through March, the weakest quarter for the U.S. economy since the Great Recession.