Focus on Economic Data: Gross Domestic Product - May 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 5.6 percent. This is the preliminary estimate for the first quarter, a downward revision from the advance estimate of 5.8 percent, and will be revised in the final estimate that is released next month. 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.
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