Gross Domestic Product (GDP)

Gross Domestic Product shows how much the U.S. economy is growing. GDP represents the market value for all goods and services produced in the United States. Real GDP means the Gross Domestic Product has been adjusted for inflation. It is a good representation for the strength of the economy.

The GDP report is released quarterly. However, data revisions are released each month.

Real Gross Domestic Product (adjusted for inflation)

The graph below shows quarter-to-quarter percentage changes in real GDP using annualized data.

Data Source: Federal Reserve Economic Data (FRED), Federal Reserve Bank of St. Louis
Gross Domestic Product [Series: GDPC1] ; U.S. Department of Labor: Bureau of Labor Statistics;
http://research.stlouisfed.org/fred2/series/GDPC1

The Full GDP Report from the Bureau of Economic Analysis provides more details about this important all-inclusive look at the U.S. economy.


Real GDP — U.S. Recessions

The graph below shows the history of the U.S. Gross Domestic Product. Recessions are highlighted in gray.

Gross Domestic Product, GDP

Data Source: Federal Reserve Economic Data (FRED), Federal Reserve Bank of St. Louis
Gross Domestic Product [Series: GDPC1] ; U.S. Department of Labor: Bureau of Labor Statistics;
http://research.stlouisfed.org/fred2/series/GDPC1

The Full GDP Report from the Bureau of Economic Analysis provides more details about this important all-inclusive look at the U.S. economy.


Report Summary

A brief summary of the most recent GDP Report is shown here. A link to the current report in PDF format is also shown.

Gross Domestic Product

GDP Turns up in Second Quarter

(Guest Blog from the Bureau of Economic Analysis, cross-posted here)

Real gross domestic product (GDP) increased 4.6 percent in the second quarter of 2014, according to the “third” estimate released by the Bureau of Economic Analysis. The second-quarter growth rate was revised up 0.4 percentage point from the “second” estimate released in August. In the first quarter, real GDP decreased 2.1 percent.Quarter-to-Quarter Growth in Real GDP

Second-quarter highlights
Exports of notably nondurable industrial supplies and materials and nonfarm inventory investment by motor vehicle dealers accounted for much of the upturn in real GDP.

In addition, business investment accelerated, mainly in information processing equipment, as did consumer spending, mainly on motor vehicles and parts.

In contrast to these contributions, imports (a subtraction in the calculation of GDP) were higher in the second quarter than in the first quarter.

Revisions
The 0.4 percentage point revision to second-quarter GDP growth primarily reflected the following:

  • Business investment was revised up, notably manufacturing structures.
  • Exports were revised up, notably travel services.

See the Technical Note for more information.

Corporate profits
Corporate profits increased 8.4 percent at a quarterly rate in the second quarter after decreasing 9.4 percent in the first quarter. The second quarter increase was the largest since the third quarter of 2010.

  • Profits of nonfinancial corporations rose 11.9 percent after falling 7.4 percent.
  • Profits of financial corporations rose 8.0 percent after falling 17.1 percent.
  • Profits from the rest of the world fell 0.9 percent after falling 6.1 percent.

Over the last 12 months, corporate profits rose 0.1 percent.

Read the full report.