GDP | AEIdeas

Wednesday, June 19, 2013

The ‘Dakota Model’: Oil-rich North Dakota led the country in 2012 with an eye-popping 13.4% real GDP growth rate

Mark J. Perry | June 6, 2013, 11:22 am

The BEA reported today on Gross Domestic Product (GDP) by state for 2012; here are some highlights: 1. Real GDP increased in 49 states and the District of Columbia in 2012, at an average national rate of 2.5%, following a … read more >

Pethokoukis, Economics, U.S. Economy

Weak GDP report no excuse to pump-up government

James Pethokoukis | April 26, 2013, 11:43 am

Another big decline in US government spending took its toll on first-quarter output. But the way to accelerate GDP growth is by boosting the private economy, not re-inflating the public sector. The nation’s gross domestic product, adjusted for inflation, grew at an annualized … read more >

Pethokoukis, Economics, U.S. Economy

Government austerity is already here, and yet the economy continues to grow

James Pethokoukis | March 1, 2013, 1:02 pm

Mike Darda of MKM Partners points out that “government consumption and investment (the G in GDP) has not risen in nearly three years and has fallen almost back to its pre-recession level vs. NGDP.” This next part of Darda’s analysis … read more >

Pethokoukis, Economics, Taxes and Spending

US needs more private-sector growth, not GDP accounting tricks

James Pethokoukis | February 27, 2013, 9:46 am

Simon Kuznets, the economist who created the accounting mechanism known as gross domestic product, warned that “distinctions must be kept in mind between quantity and quality of growth, between costs and returns, and between the short and long run. Goals … read more >

Image Credit: The U.S. Army (Flickr) (CC BY 2.0)

Foreign and Defense Policy, Defense

Sequestration’s first casualty: The US economy

Tim Welter | January 30, 2013, 1:16 pm

It is happening. The impact on the economy by “soft sequestration” is here. How this could be characterized by anyone as a surprise or unexpected is a little bit beyond belief. The term “soft sequestration” is often used by my … read more >

Carpe Diem

Private-sector real GDP grew by 3.3% over the last year through Q2, equal to post-1947 average

Mark J. Perry | August 29, 2012, 5:52 pm

The chart above shows annualized growth rates for: a) the quarterly, non-government, private-sector components of real GDP (personal consumption expenditures, gross private domestic investment, and net exports), see blue bars in chart, and b) the quarterly component of real GDP … read more >

Economics, U.S. Economy

The importance of growth

Nick Schulz | May 31, 2012, 1:30 pm

My pal Eddy Elfenbein has a fascinating post here. It includes this remarkable chart: Eddy notes: For a 40-year stretch, from 1966 to 2006, the economy grew at a 3.1% annualized pace and it didn’t stray too far from that … read more >

Economics

Carpe Diem’s charts of the week

Mark J. Perry | April 30, 2012, 9:52 am

1. The BEA reported on Friday that the overall economy grew by 2.2% at an annual rate in the first quarter of 2012. However, the private components of GDP (consumption, gross domestic investment, and net exports) grew by 3.4% from … read more >

Economics

Swedish Finance Minister: ‘Do the Right Thing’ to Get Healthier Economy Like Theirs

Bridget Johnson | April 18, 2011, 1:43 pm

As the United States had its credit rating outlook lowered by Standard & Poor’s today, an official from one of Europe’s most successful bounce-back economies advocated “top down” reforms with strong fiscal discipline and stronger incentives. There’s a panel discussion … read more >