The final revised figures released by the Commerce Department on September 29th local time showed that US gross domestic product (GDP) fell at an annualised rate of 0.6% in the second quarter of 2022, the same as the previously released revised data. Earlier, the United States announced the final annualized rate of real GDP in the first quarter, which was-1.6%.
Does the decline in real GDP in the United States for two consecutive quarters mean a recession? Get into a recession and don't stop raising interest rates? What will be the impact of the US recession on the world?
Before we can get the answer, we need to have an in-depth understanding of GDP and learn how to study macro-economy through GDP.
What does 01 GDP reflect?
GDP (Gross Domestic Product), which is often mentioned in the news, refers to the market value of all the final products and services produced by a country or region in a certain period of time.
GDP reflects the changes of national economic development, shows a complete picture of the economic situation, provides a basis for the formulation of strategic goals for economic development and macroeconomic policy decisions, helps to judge whether the economy needs stimulus or control, and also provides an important basis for measuring a country's economic status.
02 what is nominal GDP? What is the actual GDP?
GDP can be divided into nominal GDP and actual GDP.
The actual GDP deducts the factors of price changes, which can better reflectA country or place.