Friday, May 27, 2022

Economy GDP Declined 1.5% in First Quarter 2022.

Real gross domestic product (GDP) decreased at an annual rate of 1.5 percent in the first quarter of 2022 (table 1), according to the "second" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 6.9 percent.

You can read the actual release at Gross Domestic Product (Second Estimate) and Corporate Profits (Preliminary), First Quarter 2022

I find it interesting personal income rose but disposable income declined. Personal savings declined. I kind of suspected the digital economy would grow but most the statistics are horrendous out there and don't capture what I'm looking for. You can browse around for Digital GDP, Digital Economy, etc... and find lots of either old or irrelevant things. Internet Economy Grows. Our government should be tracking the Digital Economy because its going to be the new way forward in the Digital Era. Its important.

Advance EstimateSecond Estimate
(Percent change from preceding quarter)
Real GDP-1.4-1.5
Current-dollar GDP6.56.5
Real GDI2.1
Average of Real GDP and Real GDI0.3
Gross domestic purchases price index7.88.0
PCE price index7.07.0
PCE price index excluding food and energy5.25.1


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