Gross Domestic Product

University of West Florida

  

  

In this week’s Economic Report, Dr. Rick Harper discusses the latest report from the Commerce Department showing that the U.S. economy posted a much bigger rebound in growth during the spring than previously reported.

“It was actually good news,” said Harper, referring to the federal government’s revised estimate on the GDP growth for the second quarter of 2015.  

In this week’s Economic Report, Dr. Rick Harper discusses the latest GDP figures, initial jobless claims for June, and pending home sales.

The Commerce Department says the gross domestic product, the economy's total output of goods and services, expanded at a 2.3 percent annual rate in the second quarter, led by a surge in consumer spending and a recovery in foreign trade.

Uiniversity of West Florida

In this week’s Economic Report, Dr. Rick Harper looks at the latest Gross Domestic Product (GDP) figures. According to revised data released Thursday (March 27) by the Commerce Department, GDP grew at an annual pace of 2.6 percent in the fourth quarter of 2013. The growth rate is slightly better than the 2.4% estimate published in February, but was down from 3.2% originally reported in January. Harper says “Overall, it’s a pretty good report,” noting increases in 1) consumer spending, 2) business investment spending, and 3) exports.

WUWF

In this week’s Economic Report, Dr. Rick Harper discusses the third quarter Gross Domestic Product, which reflected an increase of 2.85 percent, stronger than the second quarter GDP estimate of 1.9 percent. 

Harper credits the increase with growth in inventory investment and in structures and residential investments.

Additionally, payroll provider ADP reports that Florida’s growth in private sector jobs has slowed to about 8500 jobs in September.  Harper says that’s still short of pre recession levels of about 13,000 new jobs per month.