Earlier today the reported: “Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of 2.0 percent in the third quarter of 2011 (that is, from the second quarter to the third quarter) according to the “second” estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 1.3 percent.”
While that is considerably less than forecast 2.5% it is also considerably better than Q2 1.3% — progress continues albeit gradual. Below is a chart from the past 4 years:
The US GDP of $14,527B dwarfs all other countries — China has the second largest GDP with $5,878B — but our rate of growth lags far behind the most vibrant economies when viewed on a % growth basis.
The 15 Highest % Growth GDPs by Country
Click on Chart for Expanded (actually legible 😉 ) View