Growth and Decay
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Growth and Decay
Margarita Irizarry
QRB/501
June 22, 2011
James Geffert
Growth and Decay
The GDP for the United States is showing a steadily dropping number in the measure of goods services produced in the United States. The true extent of the financial crisis started with the housing sector but is now starting to affect the whole economy. Unless this downward spiral stops this will be the worst economic downturn since the Great Depression. Three different ways, all of which are similar to define the GDP are as follows. First, it is the total expenditures for all goods and services produced by the nation in a year-long period. Second, it can be defined as the value added to input materials at every stage of production by all industries within the United States, plus taxes, minus government subsidies. The third definition is the sum of the income of everyone in the country. The GDP of a nation indicates its level of financial wealth and economic productivity. Hopefully something can turn these numbers around or the United States is in big trouble.
TABLE B–112. Growth rates in real gross domestic product, 1992–2011
[Percent change] |
Area and country | 1992– 2001 annual average | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 1 | 2011 1 |
United States. | 3.5 | 1.8 | 2.5 | 3.6 | 3.1 | 2.7 | 1.9 | .0 | -2.6 | 2.8 | 3.0 |
YEAR | GDP INDEX | gdp % change |
2001 | 100.00 | 3.5 |
2002 | 51.43 | 1.8 |
2003 | 71.43 | 2.5 |
2004 | 102.86 | 3.6 |
2005 | 88.57 | 3.1 |
2006 | 77.14 | 2.7 |
2007 | 54.29 | 1.9 |
2008 | 0.00 | 0 |
2009 | -74.29 | -2.6 |
2010 | 80.00 | 2.8 |
2011 | 85.71 | 3 |
2013 | 18.042 | 0.6 |
2016 | 0.744 | 0.03 |
2021 | -28.086 | -1.0 |
Margarita Irizarry
QRB/501
June 22, 2011
James Geffert
Growth and Decay
The GDP for the United States is showing a steadily dropping number in the measure of goods services produced in the United States. The true extent of the financial crisis started with the housing sector but is now starting to affect the whole economy. Unless this downward spiral stops this will be the worst economic downturn since the Great Depression. Three different ways, all of which are similar to define the GDP are as follows. First, it is the total expenditures for all goods and services produced by the nation in a year-long period. Second, it can be defined as the value added to input materials at every stage of production by all industries within the United States, plus taxes, minus government subsidies. The third definition is the sum of the income of everyone in the country. The GDP of a nation indicates its level of financial wealth and economic productivity. Hopefully something can turn these numbers around or the United States is in big trouble.
TABLE B–112. Growth rates in real gross domestic product, 1992–2011
[Percent change] |
Area and country | 1992– 2001 annual average | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 1 | 2011 1 |
United States. | 3.5 | 1.8 | 2.5 | 3.6 | 3.1 | 2.7 | 1.9 | .0 | -2.6 | 2.8 | 3.0 |
YEAR | GDP INDEX | gdp % change |
2001 | 100.00 | 3.5 |
2002 | 51.43 | 1.8 |
2003 | 71.43 | 2.5 |
2004 | 102.86 | 3.6 |
2005 | 88.57 | 3.1 |
2006 | 77.14 | 2.7 |
2007 | 54.29 | 1.9 |
2008 | 0.00 | 0 |
2009 | -74.29 | -2.6 |
2010 | 80.00 | 2.8 |
2011 | 85.71 | 3 |
2013 | 18.042 | 0.6 |
2016 | 0.744 | 0.03 |
2021 | -28.086 | -1.0 |