Gdp

WASHINGTON - Bad economic news just keeps piling up. Yesterday alone, three new milestones were reached: The number of workers filing unemployment claims hit an all-time high, sales of new homes reached an all-time low, and production of durable goods fell for the fifth straight month, boosting inventories to the highest level since the government began to keep count in 1992. And it's not over. Today, when the Commerce Department releases its initial estimate of gross domestic product - that is, the value of all goods and services produced by the economy - for the fourth quarter of last year, it will essentially wrap into one, sobering number all the grim developments that have been accumulating in recent weeks and months.

In response to your editorial "Put up or shut up" (April 11), I just have one question: What part of economics don't you understand? You mention that the president wants to "reduce deficits to a manageable size. " Yet in his budget he proposes growing government spending by 60 percent from 2012 to 2023, and increasing revenues by 113 percent. And he still can't balance the budget! This budget makes the argument that we need more government and more debt. His proposal leaves us with gross debt of more than 100 percent of GDP by 2020 (it was 40 percent of GDP in 2008 and is projected to be almost 80 percent of GDP next year)

Baltimore ranked 19th among metro areas in 2005 on an important measure of economic activity - up one notch from the year before. The numbers, released yesterday by the Commerce Department, represent the government's first-ever attempt to calculate gross domestic product for the country's 363 metropolitan areas. GDP is a tally of the value of goods and services produced. The government warned that the numbers are "experimental," but it intends to continue producing them. "There are many metropolitan areas that haven't seen an estimate of the size of their economy, and they don't have a clear picture of how their economy ranks," said Sharon Panek, chief of the section on GDP by state services at Commerce's Bureau of Economic Analysis.

Letter after letter is published in your paper supporting the president, despite the fact that they are all just regurgitated talking points of the Democrat Party. The latest is the new 7.8 percent unemployment rate. Nothing could be further from the truth. You see, in order for the unemployment rate to drop, the economy must be growing. The most common measurement is Gross Domestic Product, or GDP. The current GDP is 1.3 percent down from the last published GDP of 1.7 percent. The economy is shrinking, not growing.

ECONOMIC theorists have often stood by their numbers, but what happens when they're off by almost $100 billion? For some, it means panic. For others, it's just old news.The gap is between the two broadest indicators of the health of the country's $8 trillion economy -- the gross domestic product and the gross domestic income.The more commonly known GDP is the sum of the value of products and services produced in the United States. GDI measures how much is being earned from the sale of those products and services.

Providing further evidence of the U.S. economy's slowing momentum, federal officials revised yesterday first-quarter gross domestic product growth upward by a lower-than-expected amount. The slightly disappointing GDP data, combined with a separate report that showed a continuing decline in existing-home sales, may play a role in the Federal Reserve's pending decision on whether to pause its long series of interest-rate increases. The Fed's rate-setting committee next meets June 28 and 29. A month ago, the Commerce Department originally reported that the nation's gross domestic product, the measure of all goods and services produced in the U.S., expanded at a vigorous 4.8 percent rate in the first quarter, the strongest quarterly performance in 2 1/2 years.

WASHINGTON -- The U.S. economy grew faster than first estimated in the third quarter, fueled by a consumer spending surge and low inflation that are likely to make the current expansion the longest on record in peacetime, reports issued yesterday showed.The gross domestic product, the total output of goods and services, rose at a 3.9 percent annual rate in the quarter, more than doubling the second-quarter pace of 1.8 percent, the Commerce Department said. A narrower-than-estimated trade deficit and stronger consumer spending on durable goods accounted for much of the upward revision from the initial estimate of a 3.3 percent gain in GDP for the quarter.

WASHINGTON -- The U.S. economy, weighed down in the second quarter by a strike at General Motors Corp. and a slowdown in exports to Asia, still was able to grow at a faster pace than previously estimated.The gross domestic product, the total output of goods and services, rose at a revised 1.6 percent annual rate in the second quarter, the Commerce Department said yesterday. That's higher than the initial GDP estimate of a 1.4 percent gain released July 31 -- though still a shadow of the first quarter's stellar 5.5 percent growth rate.

The nation's economy grew at a 3.5 percent rate in the first quarter, a stronger performance than estimates had suggested, the Commerce Department said yesterday. The report helped ease recent concerns that the economy's momentum might be flagging. Late last month, in its initial "advance" report, the government said the nation's gross domestic product grew at a lower-than-expected rate of 3.1 percent. Yesterday, however, Commerce said that after a routine fine-tuning of its preliminary figures, the revised data indicate that the GDP's growth rate was actually a stronger 3.5 percent.

Feeling duped by the illusory bookkeeping of Enrons and WorldComs as you watch your 401(k) shares wither like this drought summer's corn? Amid the cries for accounting reform, Bob Costanza thinks it's time to focus on a similar, but far greater, federal government schemes that has been depleting our shares in planet Earth for decades. The accounting tricks of corporations pale, says the University of Maryland professor, compared with how the government carries nature and human welfare "off the books" to falsely boost the economy's value.

One of the memorable slogans from the Reagan administration was "peace through strength. " President Ronald Reagan believed a strong defense was a safeguard against enemy attacks and the best hope of victory should America go to war. President Barack Obama is taking the opposite approach. Defense Secretary Leon Panetta recently announced cuts in defense spending of $487 billion over the next 10 years. Supposedly, these cuts will reduce the federal deficit, but Congress always finds new ways to spend money, so I am not optimistic.

Brian Murphy suggests that if the super-rich were taxed more heavily they would move away ("Warren Buffett is wrong," Aug. 25). I don't believe that. California has higher taxes than Oklahoma, yet the super-rich still prefer California to Oklahoma. Second, moving from Maryland to Delaware is one thing, but moving to Haiti to avoid federal taxes - the country has the lowest tax take in the Western hemisphere - is another thing altogether. There is simply no data to back up the theory that the rich will flee if the United States it raises taxes on the wealthy and super-wealthy a little more.

Maryland's gross domestic product — a key measurement of economic strength — grew faster than the national average last year after dipping in recessionary 2009, the federal government said Tuesday. Maryland's GDP increased 2.9 percent in 2010, ranking it sixteenth among the states, according to estimates from the U.S. Bureau of Economic Analysis that could be revised later. Nationwide, GDP grew 2.6 percent last year. The state's GDP shrank a little less than 1 percent in 2009.

The recession is over, says Newsweek. We're at "the beginning of the end of the recession," says the president. Maybe. It depends on the definition of "recession" and "is" and "over." Economists - the same folks who tell us pay is up and inflation is tame - can probably make a case. But evidence putting the lie to this little reverie is set to arrive from the Labor Department at 8:30 a.m. today. The monthly jobs report may show that unemployment topped 10 percent last month for the first time since 1983.

WASHINGTON -The U.S. economy shrank by a larger-than-expected annualized rate of 6.2 percent during the final three months of 2008, the worst showing in about 25 years, according to a revised government estimate out yesterday. The new estimate of the fourth-quarter gross domestic product from the Commerce Department is far worse than the initial estimate of negative 3.8 percent and also larger than the 5 percent drop in growth most analysts had anticipated. It's the largest contraction in one quarter since the first quarter of 1982, when the economy shrank by 6.4 percent.

WASHINGTON - Bad economic news just keeps piling up. Yesterday alone, three new milestones were reached: The number of workers filing unemployment claims hit an all-time high, sales of new homes reached an all-time low, and production of durable goods fell for the fifth straight month, boosting inventories to the highest level since the government began to keep count in 1992. And it's not over. Today, when the Commerce Department releases its initial estimate of gross domestic product - that is, the value of all goods and services produced by the economy - for the fourth quarter of last year, it will essentially wrap into one, sobering number all the grim developments that have been accumulating in recent weeks and months.

Letter after letter is published in your paper supporting the president, despite the fact that they are all just regurgitated talking points of the Democrat Party. The latest is the new 7.8 percent unemployment rate. Nothing could be further from the truth. You see, in order for the unemployment rate to drop, the economy must be growing. The most common measurement is Gross Domestic Product, or GDP. The current GDP is 1.3 percent down from the last published GDP of 1.7 percent. The economy is shrinking, not growing.

Earlier this month, the New York State comptroller's office announced that the bonuses that Wall Street expected to hand out for 2005 would total $21.5 billion. That's twenty-one-and-a-half billion dollars! It was the biggest amount ever gifted to the big money men and women in the securities industry. It was a 15.5-percent increase over the previous year and the biggest increase since 2003. Comptroller Alan G. Hevesi calculated an average year-end bonus at $125,000. That means 172,000 men and women shared in the bonus pool of $21.5 billion.

Baltimore ranked 19th among metro areas in 2005 on an important measure of economic activity - up one notch from the year before. The numbers, released yesterday by the Commerce Department, represent the government's first-ever attempt to calculate gross domestic product for the country's 363 metropolitan areas. GDP is a tally of the value of goods and services produced. The government warned that the numbers are "experimental," but it intends to continue producing them. "There are many metropolitan areas that haven't seen an estimate of the size of their economy, and they don't have a clear picture of how their economy ranks," said Sharon Panek, chief of the section on GDP by state services at Commerce's Bureau of Economic Analysis.

The nation's economy shook off its recent torpor to grow at a solid 3.4 percent annual pace in the second quarter, the government reported yesterday, as improving business investment and higher exports worked to offset a sharp slowdown in consumer spending. The Commerce Department's report on gross domestic product modestly topped the 3.2 percent most economists had been expecting, and it was also the best performance since the first quarter of 2006, when the economy was riding the final months of the boom in the housing industry.