1.1.11. Real Gross Domestic Product: Percent Change from Quarter One Year Ago from the NIPA: Domestic Product and Income database shown in [Percent] Date Type: Qtr; Country: USA; Finance Line Item: Personal consumption expenditures Sage Data. Sage Publishing Ltd Sage Data [electronic resource]

Corporate Author: Bureau of Economic Analysis
Published: Thousand Oaks, CA : Sage Publications, Inc. 2025

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Summary

Gross Domestic Product (GDP) is the market value of the goods, services, and structures produced by the US economy in a particular period less the value of the goods and services used up in production. GDP is calculated as the sum of personal consumption expenditures, gross private domestic investment, net exports of goods and services, and government consumption expenditures and gross investment. GDP is also equal to the sum of value added by industry across all industries. Real GDP measures US production relative to the reference year, adjusted for inflation. Here presented is the percent change in real GDP from the same quarter in the prior year. The National Income and Product Accounts (NIPAs) are a set of economic accounts that provide detailed measures of the value and composition of national output and the incomes generated in the production of that output. Essentially, the NIPAs provide a detailed snapshot of the myriad transactions that make up the economy-buying and selling goods and services, hiring of labor, investing, renting property, paying taxes, and the like. The seven summary accounts of the NIPAs group transactors and transactions in the economy into three distinct sectors-persons, businesses, and government; a fourth sector for the rest of the world is added to cover transactions between the nation and foreigners. The seven summary accounts of the NIPAs show the contribution of each sector to the output of the economy, their income and outlays, and their saving and investment. In the NIPAs, national estimates cover the 50 states and Washington, DC. The Domestic Product and Income account presents statistics on real Gross Domestic Product (GDP), the value of the goods and services produced by the nation's economy less the value of the goods and services used up in production, adjusted for price changes.

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9781544332048 Sage Data CORE

Type of File/Data

Statistical data with bibliographic citation and abstract.

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