GDP

Government, Business, Logistics

US Economy Shrank 0.9% Last Quarter, Its 2nd Straight Drop

GDP Andres Kudacki/Associated Press)

WASHINGTON — The U.S. economy shrank from April through June for a second straight quarter, contracting at a 0.9% annual pace and raising fears that the nation may be approaching a recession.

Paul Wiseman | Associated Press
July 28, 2022
Government, Business

Economy Slipped 1.6% to Start Year

Boeing factory Factory lines at Boeing's Everett Production Facility in Everett, Wash. (Jennifer Buchanan/The Seattle Times via AP, Pool)

WASHINGTON — The U.S. economy shrank at a 1.6% annual pace in the first three months of the year, the government reported June 29 in a slight downgrade from its previous estimate for the January-March quarter.

Paul Wiseman | Associated Press
June 29, 2022
Government, Business

Economy Posts Surprise Contraction, Belying Solid Consumer Picture

Chart showing economy shrinking

The U.S. economy shrank for the first time since 2020, reflecting an import surge tied to robust consumer demand. While the surprise contraction adds to political headaches for President Joe Biden, it’s unlikely to dissuade the Federal Reserve from hiking interest rates aggressively to combat inflation.

Olivia Rockeman | Bloomberg News
April 28, 2022
Government, Business

US Slightly Revises Up its GDP Estimate for Q4 to 7%

US Slightly Revises Up its GDP Estimate for Q4 to 7% Motorists fill up vehicles as a winter storm approaches. (David Zalubowski/Associated Press)

The U.S. economy ended 2021 by expanding at a brisk 7% annual pace from October through December, the government reported Feb. 24 in a slight upgrade from its earlier estimate as businesses stepped up their restocking of supplies.

Paul Wiseman | Associated Press
February 24, 2022
Government, Business

Economic Growth Quickens in Q4 With Inventory Boost

Economic Growth Quickens in Q4 With Inventory Boost A worker uses a forklift to move packages at a robotics facility in Baltimore. (Andrew Harrer/Bloomberg)

U.S. economic growth accelerated by more than forecast in the fourth quarter, fueled by the rebuilding of inventories and capping the strongest year since the 1980s.

Reade Pickert | Bloomberg News
January 27, 2022
Government, Business

US Posts Weakest GDP Growth of Pandemic Recovery

US Posts Weakest GDP Growth of Pandemic Recovery A worker uses a forklift to move packages at a facility in Baltimore. (Andrew Harrer/Bloomberg)

U.S. economic growth slowed more than expected in the third quarter to the softest pace of the pandemic recovery period as snarled supply chains and a surge in COVID-19 cases throttled spending and investment.

Reade Pickert | Bloomberg News
October 28, 2021
Government, Business

Government Revises Q4 GDP Up Slightly to 4.3%

hiring sign Steven Senne/AP

WASHINGTON — The U.S. economy grew at an annual rate of 4.3% in the final three months of 2020, slightly faster than previously estimated.

Martin Crutsinger | Associated Press
March 25, 2021
Government, Business

Economy Grows 4%; Transportation Services See Small Drop

An employee walks by crucibles filled with molten magnesium and aluminum at a foundry in Ohio. An employee walks by crucibles filled with molten magnesium and aluminum at a foundry in Ohio. (Ty Wright/Bloomberg News)

The U.S. economy downshifted in the final three months of 2020 after record third-quarter growth, as the pandemic battered the labor market and limited Americans’ ability and willingness to spend.

Reade Pickert | Bloomberg News
January 28, 2021
Government, Business

US Economy Expands at Record 33.1% Pace After COVID Plunge

A worker uses a forklift to move packages at a facility in Baltimore. A worker uses a forklift to move packages at a facility in Baltimore. (Andrew Harrer/Bloomberg News)

The U.S. economy bounced back with a record yet temporary surge of growth in the third quarter as businesses reopened and stimulus cash powered consumer spending — reversing much of the collapse stemming from coronavirus lockdowns.

Reade Pickert | Bloomberg News
October 29, 2020
Government, Business

Q2 GDP Drops a Record 32.9%, but Trucking Holding Steady

Trucks on an interstate highway American Trucking Associations Chief Economist Bob Costello said trucking is holding its own during these tough times. (Doug Berry/Getty Images)

The gross domestic product of the United States shrank a record-setting 32.9% in the second quarter, tracking closely with economists’ expectations.

Dan Ronan | Senior Reporter
July 30, 2020

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