What was gnp in 2008

Nonresidential structures decreased 1. Equipment and software decreased Real residential fixed investment decreased Real exports of goods and services decreased Real imports of goods and services decreased Real federal government consumption expenditures and gross investment increased 5. National defense increased 2. Nondefense increased Real state and local government consumption expenditures and gross investment decreased 0. The real change in private inventories added 1.

Real final sales of domestic product -- GDP less change in private inventories -- decreased 5. Gross domestic purchases Real gross domestic purchases -- purchases by U.

The sharp deceleration reflected the pattern of rebates to individuals with tax liabilities which are treated as an offset to taxes from the Economic Stimulus Act of Real DPI increased 3. The personal saving rate -- saving as a percentage of disposable personal income -- was 2. In the third quarter, current-dollar GDP increased 3. The major contributors to the increase in real GDP in were exports, personal consumption expenditures PCE for services, federal government spending, nonresidential structures, and state and local government spending.

These were partly offset by residential fixed investment, PCE for goods, equipment and software, and private inventory investment. The deceleration in real GDP primarily reflected a sharp deceleration in PCE, a downturn in equipment and software, and decelerations in exports and in state and local government spending that were partly offset by a sharp downturn in imports, an acceleration in federal government spending, and a smaller decrease in private inventory investment.

The price index for gross domestic purchases increased 3. Current-dollar GDP increased 3. Countries with the largest gross domestic product GDP per capita Countries with the largest gross domestic product GDP This feature is limited to our corporate solutions. Please contact us to get started with full access to dossiers, forecasts, studies and international data.

Skip to main content Try our corporate solution for free! Single Accounts Corporate Solutions Universities. Initial quarterly projections of Real GDP suggest a fall by as much as 30 percent. What does GDP growth mean? Essentially, the annual GDP of the U. On the surface, an increase in GDP therefore means that more goods and services have been produced in one period than another.

Things are not quite so simple though. As GDP is calculated using the market value of goods and services during the period they were produced, it does not factor in regular price increases, as reflected by the U. This honor goes to China, who reported a real GDP growth rate of 1.

Russia and India also recorded higher growth rates than the United States, although the U. Loading statistic Show source.

Download for free You need to log in to download this statistic Register for free Already a member? While GDP is the single most important indicator to capture economic activity, it falls short of providing a suitable measure of people's material well-being for which alternative indicators may be more appropriate. This indicator is less suited for comparisons over time, as developments are not only caused by real growth, but also by changes in prices and PPPs. Find a country by name.

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