US DATA ASSIGNMENT

By: Minh Nguyen

US GDP AND EXPENDITURE COMPONENTS

1947 - 2020
25000

GDP
20000
Consumption

15000 Investment
Billions US$

Net exports
10000
Gov Expenditure

5000

-5000
Years
Question 8:

Revised estimates of U.S. GDP are usually released by the government near the
end of each month. Find a newspaper article that reports on the most recent
release, or read the news release yourself at http://www.bea.gov, the website
of the U.S. Bureau of Economic Analysis. Discuss the recent changes in real and
nominal GDP and in the components of GDP.
- According to the source, real gross domestic product (GDP) increased at an annual rate of
4.3 percent in the fourth quarter of 2020, according to the "third" estimate released by the
Bureau of Economic Analysis. In the third quarter, real GDP increased 33.4 percent. The
increase in real GDP reflected increases in exports, nonresidential fixed investment, personal
consumption expenditures (PCE), residential fixed investment, and private inventory
investment, that were partly offset by decreases in state and local government spending as
well as federal government spending (reflecting fewer fees paid to administer the Paycheck
Protection Program loans). Imports, which are a subtraction in the calculation of GDP,
increased.
 - Nominal GDP increased 6.3 percent at an annual rate, or $324.4 billion, in the fourth quarter
to a level of $21.49 trillion. In the third quarter, GDP increased 38.3 percent, or $1.65 trillion.

The Source:

https://www.bea.gov/news/2021/gross-domestic-product-third-estimate-gdp-industry-and-
corporate-profits-4th-quarter-and