The opening hypothesis of this article referencing GDP should read, “calling into question the validity of US Government statistics and projections when taken in context of the past month’s reports and data” instead of “”calling into question the strength of the projected pickup in U.S. growth”; i.e. New Home Sales, US Unemployment Insurance Weekly Claims Report and Sales of U.S. Existing Homes Rise to Highest Since 2009.
|Production||Production is a process of combining various material inputs and immaterial inputs (plans, know-how) in order to make something for consumption (the output). It is the act of creating output, a good or service which has value and contributes to the utility of individuals. – Wikipedia|
|Real GDP||The real GDP, nominal, doesn’t take into account either quality of the goods that are produced or any new products that may have emerged in the market since the base year. This is a major deficiency of GDP as a measure of the standard of living in a country over time… – www.khanacademy.org|
|GDP Growth||GDP growth (annual %) – Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2005 U.S. dollars. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. – WorldBank.org|
|Gross Domestic Product||Gross domestic product (GDP) is a measure of economic activity which captures the value of goods and services that the UK produces during a given period. GDP can be expressed in nominal or real terms. Nominal GDP reflects the value of all the goods and services which are produced in the UK during a given period, using their price at the time of production. – http://www.ons.gov.uk/|
“Durable-Goods Drop Imperils Outlook for U.S. GDP Pickup – Bloomberg
Orders for durable goods dropped in July by the most in almost a year, calling into question the strength of the projected pickup in U.S. growth.
Bookings for goods meant to last at least three years fell 7.3 percent, the first decrease in four months and the biggest since August 2012, the Commerce Department said today in Washington. The retreat was broad-based, with demand excluding the volatile transportation category unexpectedly falling.”
Originally posted Durable-Goods Drop Imperils Outlook for U.S. GDP Pickup – Bloomberg. By Michelle Jamrisko – Aug 26, 2013 11:34 AM ET