GDP JUMPS IN 3RD QUARTER

GDP Jumps in 3rd Quarter

GDP Jumps in 3rd Quarter

Consumer Spending

Consumer spending is product and services bought by households in the satisfaction of their needs and wants. It includes non-durables such as food, semi-durables such as clothing, and durables such as refrigerators (Economic Report of the President, 2008).

GDP is the major component of U.S. Economic activity. Real GDP is such a comprehensive measure. GDP is the entire market value of all finished goods and services formed in a country in a specified year, equivalent to total consumer, investment and government spending, plus the value of exports, minus the ...