GDP

Who: Commerce Department

When: Quarterly

What: GDP (Gross Domestic Product) is a measure of the total production and consumption of goods and services in the US. GDP has two complementary measures: one based on income and the other on expenditures. The two measures should be equal but the problems with the data collection have left some discrepancies. A deflator is used to convert current prices into a constant-dollar GDP figure. The GDP report gives a complete picture of the state of the economy as well as estimates for future output based on supply and demand.