With this backdrop the following sections examine

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Unformatted text preview: ckdrop, the following sections examine forecasts of output and the key components of GDP. Total Output Through Q3 2011, the United States recorded nine-consecutive quarters of GDP growth. The rate of growth for 2010 was 3%. While early 2011 exhibited signs of a faltering recovery, the economy surprised with annualized growth of 2.5% in Q3 2011, and the year should end with an annual growth rate of approximately 1.8%. While this is less than exuberant, it puts at ease the notion of a double-dip recession. Risks remain for the U.S. REAL GROSS DOMESTIC PRODUCT, 2003–2012 (In Millions of Chained 2005 Dollars) Economic Indicator Real Gross Domestic Product Percentage Change Fixed Investment Percentage Change Personal Consumption Percentage Change Government Expenditures Percentage Change Net Exports a 2003 $11,836.4 2.5% $1,854.7 3.5% $8,244.5 2.8% $2,330.5 2.2% -$603.7 2004 $12,246.9 3.5% $1,992.5 7.4% $8,515.8 3.3% $2,362.0 1.4% -$687.9 2005 $12,623.0 3.1% $2,122.3 6.5% $8,803.5 3.4% $2,369.9...
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