The final GDP reading for 2nd quarter came out today at 1.3%. Each initial GDP report gets revised twice before the final figure, so this would be the final for Q2 . If you’ve ever taken an Econ class you’ve probably learned about GDP. Gross Domestic Product (GDP) is the total market value of all the final goods and services produced within an economy in a given year.
GDP= total consumer+investment+government spending+exports-imports
What this means for you?
Growth in GDP is what matters. The faster the U.S. economy grows, the less pain we’ll feel. At a pathetic rate of 1.3%, it’s clear that we’re on a slow growth track. Brace up.
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