In the first quarter of 2023, economic growth slowed to an annual rate of 1.1%, amid rising interest rates and an ongoing banking crisis. This quarter’s growth was dragged down by decreases in private inventory investment and residential fixed investment. Private inventory investment subtracted 2.26…
Real gross domestic product (GDP) increased in 42 states and the District of Columbia in 2022 according to the U.S. Bureau of Economic Analysis (BEA). Six states recorded declines while Maryland and New Hampshire reported no change. The percent change in real GDP ranged from 4.9…
The U.S. economy continued to grow in the fourth quarter of 2022. As consumer spending and private inventory investment helped increase GDP, residential fixed investment dragged down the contribution to percent change in real GDP by 1.29 percentage points. More importantly, the data from the…
Real gross domestic product (GDP) increased in 47 states and the District of Columbia in the third quarter of 2022 while Indiana, South Dakota, and Mississippi saw modest GDP declines. According to the U.S. Bureau of Economic Analysis (BEA), the percent change in real GDP ranged…
Real GDP grew in the third quarter, after shrinking for the first two straight quarters of 2022. This quarter’s growth was mostly fueled by a decline in the trade deficit. More important, the data from the GDP report suggests that inflation is cooling. The GDP…
Real gross domestic product (GDP) decreased in 40 states and the District of Columbia in the second quarter of 2022 while ten states saw modest GDP growth. According to the U.S. Bureau of Economic Analysis (BEA), the percent change in real GDP ranged from 1.8 percent…
The U.S. economy definitively slowed in the first half of 2022 as the Federal Reserve tightened financial conditions. Real GDP fell for the second straight quarter, while the Fed raised interest rates by 75 basis points for the second consecutive month to reduce inflation pressure….
