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The average of GDP and GDI, also referred to as gross domestic output and considered a better measure of economic activity, increased at a 2.6% rate. That was revised up from the 2.5% rate ...
Since World War II, the United States economy has performed significantly better on average under the administration of Democratic presidents than Republican presidents. The reasons for this are debated, and the observation applies to economic variables including job creation, GDP growth, stock market returns, personal income growth, and corporate profits.
GDP also does not capture certain phenomena impacting citizens' well-being. [57] For example, traffic jams could cause GDP to increase as there is a higher consumption of gasoline, however, GDP fails to consider citizens' well-being in terms of the quality of air due to air pollution from the traffic jams. [58]
Meanwhile, economists at Goldman Sachs project GDP is pacing at 2.4% for the quarter. Still, Williamson noted the growth in the US economy remains heavily skewed to activity in the services sector.
Within the GDP data, a category that measures the economy’s underlying strength rose at a solid 3.4% annual rate from July through September, an upgrade from the previous estimate and up from 2. ...
Countries with higher GDP may be more likely to also score high on other measures of welfare, such as life expectancy. However, there are serious limitations to the usefulness of GDP as a measure of welfare: Measures of GDP typically exclude unpaid economic activity, most importantly domestic work such as childcare.
The Atlanta Fed's GDPNow Tool model, which incorporates data from the current quarter to project GDP, estimates the US economy will have grown at an annualized rate of 2.6% in the fourth quarter.
Women with fewer children and better access to market employment tend to join the labor force in higher percentages. There is a reduced demand for child labor and children spend more years in school. The increase in the percentage of women in the labor force in the U.S. contributed to economic growth, as did the entrance of the baby boomers ...