The Economy is Still Expanding

Chart of the Week for April 27-May 3, 2001

Nearly doubling expectations, first quarter Gross Domestic Product (GDP), the total of all goods and services produced in the U.S., grew at a 2.0% annualized rate. Nearly two-thirds of GDP is derived from consumer spending, which posted a strong increase in the first quarter from the previous period. However, we may not be out of the woods completely. Rising unemployment may blunt future spending and the GDP price deflator, the inflation measure used in the report, rose significantly.

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