To look at the overall economic activity, the Gross Domestic Product must be examined. This is a measurement of the market value of all final goods, services, and structures produced in one year by labor and property located in the United States. GDP is divided into four distinctly separate categories: consumption, investment, government purchases, and net exports. This will be explained in more depth later. Real GDP growth picked up sharp...
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...of the macro economy from August 2003 to August 2004, one should have a better understanding for what economic indicators are, how they are defined, and how they are measured. Economists use these measurements to explain economic growth and activity and forecast future economic hardships or other important economic conditions. Due to the increasing rates in productivity, employment, Gross Domestic Product, Consumer Price Indexes, and the variety of macroeconomic sectors, one can assume the United States economy is in period of economic growth. Interest rates are low, consumer spending is high, and people are generally satisfied with their lives. Now that there is a better understanding for how the macro economy works, in particular the previous four quarters, people can clearly see how the economy not only affects them, but how they in turn affect the economy.
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