Focus on Economic Data: Gross Domestic Product - April 2002
Source: Council for Economic Education (EconEdLink) | Type: Lesson
Real Gross Domestic Product (GDP) during the first quarter (January through March) of 2002 increased at an annual rate of 5.8 percent. This is the advance estimate for the first quarter and will be revised in the preliminary and final estimates over the next 2 months. During 2001, real GDP changed at annual rates of +1.3 percent, +0.3 percent, -1.3 percent and +1.7 percent for each quarter respectively. This is the fastest rate of growth of GDP since the fourth quarter of 1999. The growth rate in real GDP for all of 2001 was 1.2 percent. That compares to a 4.1 percent annual growth rate in both 1999 and in 2000.
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