Chart of U.S. Gross Domestic Product From 1947 to Present

Chart of U.S. Gross Domestic Product From 1947 to Present

The Bureau of Economic Analysis defines Gross Domestic Product as:

Gross domestic product (GDP) is 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. GDP is also equal to the sum of personal consumption expenditures, gross private domestic investment, net exports of goods and services, and government consumption expenditures and gross investment. Real values are inflation-adjusted estimates—that is, estimates that exclude the effects of price changes.

As of April 1, 1947, the GDP rate was (0.8)%, as of April 1, 2019, the GDP rate was 2.1%.   GDP has been a relatively tight range for a number of years since the last rescission.

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