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The Bureau of Economic Analysis (BEA) of the United States each year and quarterly publishes statistical information about basic indicators of the U.S. economy. This data is an important source of information about the current state of the economic sphere in the country, and include key macroeconomic indicators.
Review and analysis of economic and statistical data is an important part of economic analysis that has several important tasks:
– To analyze the key macroeconomic indicators of the economy for the period (2009);
– Compare the data with the previous period (2008);
– To draw conclusions about the positive and negative changes in the economy over the past year;
– To analyze the trend of recent years to determine the state of the U.S. economy in the post-crisis period.
This paper reviews the data of U.S. Bureau of Economic Analysis about the results of the year 2009 for the country’s economy, which was published on the January 29, 2010. This data include current key economic indicators: U.S. real gross domestic product (Real GDP) for the fourth quarter of 2009, Inflation, Employment and Unemployment and others, current economic growth of the U.S. economy and individuals.
So it is necessary to analyze the last statistical data about of the results of the year 2009, and answer such questions:
1. What data from the BEA announcement supports the NBER decision that the U.S. is in a recession?
2. What measures did the U.S. government take to increase GDP during this time?
3. Recent GDP Data in Detail

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Current Key Economic Indicators
Real GDP is the most important indicator of the economic effectiveness and efficiency. It shows the output of goods and services produced by labor and property located in the United States, and represents all business processes in the economy.
U.S. real gross domestic product increased at an annual rate of 5.7 % in the IV quarter of 2009. In the III quarter real GDP increased 2.2 %, and this is substantially below the initial assessment of 3,5%, which was then reduced to 2,8% and finally to 2,2%. (Bureau of Economic Analysis 2010)
But experts believe that the U.S. economy should grow at least at 3% to ensure the employment growth. Economists indicate that if the economy continues to lose jobs, this situation can be called recession even if GDP grows.
The growth of GDP in the IV of 2009 quarter was the result of increases in consumer spending, growth in exports and private inventory investment and government spending.
To understand the economic situation and processes it is necessary to analyze the composite indicators of GDP growth (Real Gross Domestic Product and Related Measures). These indicators show economic tendencies that contributed to the GDP growth:
– an increase in private inventory investment (in the IV quarter they growth up to 46%);
– an increase in nonresidential fixed investment;
– an increase in exports (in the IV quarter the increase was about 22.8 %)
– decline in imports that was due to the high federal government spending and increased Personal Consumtion Expenditures. (Bureau of Economic Analysis 2010).
The Bureau of Economic Analysis pointed that the economy begins to show signs of growth, but does not overcome the previous decrease, that were due to the great economic recession of the last years. For example, if we see the data for the full year 2009, than in 2009 the volume of U.S. GDP declined by 2.4% compared to 2008, and in 2008 it had a small increase in 0.4%.
That is why the Bureau of Economic Analysis of U.S. Department of Commerce reported that the US economy is in recession process. Though there is an evidence of the beginning of economic recovery after a huge decline.
For the growth the US economy must stabilize another key indicators, that are so important for the US GDP:
– increase in the private consumer spending in the IV quarter was 1,7% , and in III quarter – about 2,8%);
– increase in exports of goods and services in the IV quarter was about 22.4%;
– increase in imports was about 15,3% in the IV quarter;
– increase of investments in fixed assets (excluding investments in residential property) was about 6.5% (and in III quarter there was a decline in 5,9%). (Bureau of Economic Analysis 2010).
If we analyze such important economic indicators as
– Employment and Unemployment rates, then we will see a decrease in nonfarm payroll employment, and the unemployment rate was at 10.0 %. Employment fell in construction, manufacturing, and wholesale trade, while temporary help services and health care added jobs. (Bureau of Economic Analysis 2010).