1. U.S. economic growth—What are the latest rates? Go to the Bureau of Economic
ID: 1105236 • Letter: 1
Question
1. U.S. economic growth—What are the latest rates? Go to the Bureau of Economic Analysis Web site, www.bea.gov. Click on "Interactive Data Tables," then "National Income and Product Accounts," and then "Frequently Requested NIPA Tables" to get to Table 1.1.1. What are the quarterly growth rates (annualized) for the U.S. economy for the last six quarters? Is the average of those rates above or below the long-run U.S. annual growth rate of 3.5 percent? Expand the range of years, if necessary, to find the last time real GDP declined in two or more successive quarters. What were those quarters?
Explanation / Answer
Real Gross Domestic Product (GDP) grow at a rate of 3.0 percent per yearin the last quarter of 2017.
Quarterly Growth Rate for US Economy forlast six quarters
Average of GDP Growth Rate = 2.2 + 2.8+ 1.8 + 1.2 + 3.1 + 3.0 / 6
= 14.1 / 6
= 2.3
The average 2.3 is below the long-run US annual growth rate of 3.5 percent.
In the Year 2012, The US economy has shown a constant downfall in GDP Growth Rate quarter by quarter.It is as shown :
Thus,In the Year 2012, from Quarter 1 to Quarter 4, the economy has shown a constant downfall in the GDP Growth rate ie.2.7%,1.9%, 0.5% and 0.1%.
Quarter Growth Rate July 2016 2.2 October 2016 2.8 January 2017 1.8 April 2017 1.2 July 2017 3.1 October 2017 3.0Related Questions
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