Focus on Economic Data: Gross Domestic Product - December 2002
Source: Council for Economic Education (EconEdLink) | Type: Lesson
Real Gross Domestic Product (GDP) during the fourth quarter (October through December) of 2002 increased at an annual rate of 0.7 percent. For the entire 2002 year, real GDP increased at a rate of 2.4 percent. This is the advance release of the data for the quarter and will be updated in the February 28th release of the GDP data. This compares to rates of 5.0 percent in the first quarter, 1.3% in the second quarter of year, and 4.0% in the third quarter. During 2001, real GDP increased by .3 percent - a year in which real GDP fell during the first three quarters. Annual growth rates in 1999 and 2000 were 4.1 percent and 3.8 percent.
Grades:
Concepts:
Standards:
Related Resources: