GROWTH IN GROSS DOMESTIC PRODUCT

GROWTH IN GROSS DOMESTIC PRODUCT

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U.S. Gross Domestic Product (GDP) (quarterly estimates, seasonally adjusted, at annual rates)

U.S. Gross Domestic Product (GDP) (quarterly estimates, seasonally adjusted, at annual rates). If you are a user with a disability and cannot view this image, please call 800-853-1351 or email answers@bts.gov for further assistance.

U.S. GDP Growth Rate (quarterly estimates, seasonally adjusted, at annual rates)

U.S. GDP Growth Rate (quarterly estimates, seasonally adjusted, at annual rates). If you are a user with a disability and cannot view this image, please call 800-853-1351 or email answers@bts.gov for further assistance.

Gross Domestic Product (GDP) growth affects new demand for transportation services.

GDP is the net output of goods and services produced by labor and property located in the United States. Real GDP is expressed in chained 1996 dollars.

U.S. Gross Domestic Product Q1 02 Q2 02
Billions of current dollars 10,313 10,370
Current dollars percent change from previous quarter   1.58   0.55
Billions of chained 1996 dollars  9,363  9,388
Chained 1996 dollars percent change from previous quarter   1.24   0.26

NOTES: Quarterly GDP data are presented at an annual rate.

Chained 1996 dollars are calculated using chain-type indices, rather than constant dollars, to measure real GDP. The chain-type method first calculates the real changes between adjacent years. Annual rates of real changes are then chained (multiplied) together to obtain the rate of real changes between nonadjacent years. Chained dollars are preferable to constant dollars, which merely reflect overall price inflation, because chained dollars capture the effect of changes in the components of GDP.

SOURCE: U.S. Department of Commerce, Bureau of Economic Analysis; National Income and Product Accounts data, Tables 1.1 and 1.2; July 31, 2002; available at: http://www.bea.doc.gov/bea/dn/nipaweb/AllTables.asp?Selected=N#S1; based on Survey of Current Business.