EconoMeter panelists peer into 2015
Members pick favorite indicators, predict year-end statistics
Roger Showley, U-T SAN DIEGO
Friday, December 26, 2014
Kelly Cunningham, National University System
Answer: Gross Domestic Product
GDP, the market value of all final goods and services produced, is the most comprehensive measure of the nation’s economy. Estimates of each quarter’s U.S. GDP are issued by the Bureau of Economic Analysis. Preliminary initial estimates are released soon after each quarter ends, but revised more accurate estimates are later issued. While the initial estimate gets the most attention, subsequent revisions may be substantially different. Thus the more accurate estimate lags by up to a year. The nation averaged 2.2 percent “real” GDP growth over the past five years. Significantly stronger growth is needed for healthy sustainable expansion.