The White House defines the Gross Domestic Product (GDP) as "the standard measure of the size of the economy. It is the total production of goods and services within the United States."http://www.whitehouse.gov/omb/rewrite/budget/fy2003/bud35.html The GDP report provides an analysis of the value of all goods and services in the United States.
The second quarter GDP report in 2009 was released on Friday, July 31, 2009.http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm
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References
Fast Facts
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Fact:
GDP report released quarterly
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Commerce Department began tracking the GDP in 1947
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Fact:
The GDP report is a sum of all the goods and services in the economy
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Fact:
The GDP report is a reveals the U.S.'s economic climate during the quarter
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Policymakers and companies use the report to help make financial decisions
