Go to the Bureau of Economic Analysis Website of Interactive tables for the U.S.

Question

Go to the Bureau of Economic Analysis Website of Interactive tables for the U.S. economy and select Section 1. Open Table 1.1.1 on GDP. You can use the Modify tab at the top right corner to adjust the range of years shown in the table so look at the range from 2007, before the start of the Great Recession thru the present. What is the current GDP growth rate for the U.S.? Examine the trend over the past few years. Which of the 4 components of GDP was positive during the Great Recession and which took the biggest hits? What stage of the Business Cycle is the U.S. economy in currently given the information in this table? Can you identify quarters where there have been some “hiccups” in the economic recovery?

Explanation / Answer

The current GDP growth rate of US is 3.9% according to the 2nd quarter estimate.

The 4 components of GDP which were positive during the Great Recession and took the biggest hit were Goverennment consumption expenditures and investment on Federal, National Defense, Non defense and State and Local.

After analyzing the given data it can clearly be said that US economy is going to achive its peak now.

Normaly the trends shows to have some 'hiccups' in 1st ansd 3rd quarters.

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