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Steady GDP growth sets US apart from peer countries

Feb 28, 2024
The U.S. economy has been growing at a steady clip while many others are faltering.
Despite interest rate hikes to combat inflation, the U.S. economy has grown for six quarters in a row.
Michael M. Santiago/Getty Images

Biden administration moves forward with measuring nature's economic impact

Feb 2, 2024
At a recent ocean biodiversity summit, federal officials touted the plan to quantify the country’s natural assets and the services provided by healthy ecosystems, like tree canopies that can cool urban areas or kelp forests that prevent coastline erosion.
Go mountain biking and things like lodging and dining will be counted in GDP, but the fact that a pristine natural setting prompted that spending will not be.
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Who’s afraid of our $34 trillion national debt?

Jan 30, 2024
Our U.S. debt is bigger than our economic output. Consequences include ballooning interest payments and potential trust issues.
The U.S. national debt is about 120% of what the economy generates in a year. But is this cause for concern?
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What drove the strong growth in GDP at the end of 2023? Consumer spending.

Jan 25, 2024
Nostalgia, cold weather and an uptick in business travel have been good news for three Baltimore businesses.
The bump in GDP reflects increased consumer spending on goods and services.
LumiNola/Getty Images

Remittances grew again in 2023

Dec 19, 2023
Migrants around the world sent nearly $670 billion back to family members in their home countries. For some countries, remittances make up a quarter to a half of GDP.
A major reason remittances have grown in the past few years is that the U.S. economy has fared better since the onset of the pandemic compared to other countries.
Eva Marie Uzcategui/AFP via Getty Images

The long-expected consumer pullback may finally be materializing

Nov 29, 2023
We spent more over the holiday, but we bought less — thanks to inflation.
While consumers spent a couple percent more this Black Friday weekend than last, they didn’t necessarily buy more.
Yuki Iwamura/AFP via Getty Images

GDP grew 4.9% in Q3, the highest since 2014. How'd we get here?

Oct 26, 2023
The answer will be pretty familiar: consumer spending, and lots of it.
A majority of GDP growth came from people splurging on concerts, restaurants and durable goods.
Valerie Macon/AFP via Getty Images

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The monumental task of measuring the GDP over and over again

Sep 28, 2023
The keepers of GDP continually update their calculations as more information becomes available.
Measuring the economy requires continually revising data as more data becomes available.
Stephane de Sakutin/AFP via Getty Images

The economy apparently shrank and grew at the same time

Sep 15, 2023
Depending on how you measure it, the economy either grew or shrank, according to BEA statistics.
Gross domestic product, or GDP, and gross domestic income, or GDI, are different ways to measure the economy.
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When it comes to measuring economic welfare, GDP doesn't cut it

Sep 1, 2023
Gross domestic product has been the standard measure for economic growth since 1944, but it doesn't measure the quality of life.
GDP has been a global standard for measuring economic growth since 1944, but it doesn't measure economic welfare.  
Stefani Reynolds/AFP via Getty I ages