Focus on Economic Data: Gross Domestic Product - January 2002
Source: Council for Economic Education (EconEdLink) | Type: Lesson
Real Gross Domestic Product (GDP) during the fourth quarter (October through December) of 2001 increased at an annual rate of 0.2 percent. This is the “advance” estimate for the fourth quarter, which is based on incomplete data and will be revised in the “preliminary” and “final” estimates. During the first three quarters of 2001, real GDP changed at annual rates of +1.3 percent, +0.3 percent and -1.3 percent respectively. The growth rate in real GDP for all of 2001 has been 1.1 percent. That compares with a 4.1 percent annual growth rate for 1999 and 2000. The slower rate of growth that we are experiencing now is a trend that began in 2000 and continued through all of 2001.
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