USA Final Gross Domestic Product

Description

Gross domestic product (GDP) is a measure of the total value of goods and services produced in the economy. It is the most direct measure of economic growth. Countries and economic regions usually report on GDP on a quarterly and annual basis. GDP data are typically provided as percent changes from the previous quarter or year-ago levels.
Latest Release: 23-12-2014 13:30:00
Next Release: 27-03-2014 12:30:00
Source:US Department of Commerce

The US dollar appreciated against a basket of currencies Friday and is headed for its eleventh consecutive weekly gain following a second upward revision to second quarter GDP.

The US dollar index, a weighted average of the greenback’s performance against a basket of currencies that includes the euro, Japanese yen, British pound, Canadian dollar, Swedish krona and Swiss franc, advanced 0.27 percent to 85.42.

In economic data, the US economy grew at a faster rate in the second quarter than initially estimated, the Commerce Department reported today in Washington.

US gross domestic product, which measures the total value of goods and services produced in the economy, accelerated at an annualized rate of 4.6 percent in the April to June period. That was the second upward revision to GDP since the Commerce Department produced its advance estimate in July.

The government’s advance estimate showed annual GDP growth of 4 percent. That figure was revised up to 4.2 percent in August.

The latest figures, which are based on more complete data, said there was a larger contribution than previously estimated in nonresidential fixed investment and exports. On balance, however, “The general picture of economic growth remains the same,” the Commerce Department said in its press release.

Overall, the increase in real GDP in the June quarter was due to positive contributions from personal consumption expenditures, exports, private...

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