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What does GDP mean in economics?

In the United States, G.D.P. figures have traditionally been reported at an annualized rate, meaning the amount the economy would have grown or shrunk if the quarter-to-quarter change had persisted for an entire year.

How much did the economy grow in July & August?

A report from the Commerce Department released on Thursday shows the nation's gross domestic product grew at an annual rate of 2.6% in July, August and September. That's in contrast to the first six months of the year, when GDP figures showed the economy shrinking.

Is consumer spending a big driver of GDP?

Consumer spending, another big driver of GDP, has held up well so far, even though prices are climbing faster than most people's wages. Spending rose at an annual rate of 1.4% in the most recent quarter. "Consumers are doing their part," Zandi says. "They're not spending with a lot of gusto, but they're out spending."

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