Status and Forecast

Staff | September 28, 2010

Gross Domestic Product

Gross Domestic ProductThe 0.7-percent economic growth rate reported for the winter quarter is the low point for this business cycle. GDP growth will progressively move back to about 3 percent by the end of 2007 and remain at that level through 2008. Already, early second-quarter economic reports show a pickup since winter. This includes employment, consumer spending, factory production and business investment, wage rates and consumer confidence.