Sharp drop in demand caused recession and demand has yet to recover: Actual and potential gross domestic product (GDP), 2001–2015
Date | Potential GDP | Actual GDP |
---|---|---|
2001Q1 | 12589.7 | 12643.3 |
2001Q2 | 12706.0 | 12710.3 |
2001Q3 | 12821.9 | 12670.1 |
2001Q4 | 12936.2 | 12705.3 |
2002Q1 | 13044.8 | 12822.3 |
2002Q2 | 13151.1 | 12893.0 |
2002Q3 | 13254.8 | 12955.8 |
2002Q4 | 13355.7 | 12964.0 |
2003Q1 | 13454.0 | 13031.2 |
2003Q2 | 13548.7 | 13152.1 |
2003Q3 | 13640.7 | 13372.4 |
2003Q4 | 13730.3 | 13528.7 |
2004Q1 | 13817.2 | 13606.5 |
2004Q2 | 13901.3 | 13706.2 |
2004Q3 | 13984.1 | 13830.8 |
2004Q4 | 14066.4 | 13950.4 |
2005Q1 | 14149.5 | 14099.1 |
2005Q2 | 14234.0 | 14172.7 |
2005Q3 | 14319.0 | 14291.8 |
2005Q4 | 14404.6 | 14373.4 |
2006Q1 | 14491.8 | 14546.1 |
2006Q2 | 14580.7 | 14589.6 |
2006Q3 | 14669.2 | 14602.6 |
2006Q4 | 14756.5 | 14716.9 |
2007Q1 | 14840.9 | 14726.0 |
2007Q2 | 14922.2 | 14838.7 |
2007Q3 | 15000.7 | 14938.5 |
2007Q4 | 15075.9 | 14991.8 |
2008Q1 | 15146.4 | 14889.5 |
2008Q2 | 15214.8 | 14963.4 |
2008Q3 | 15279.7 | 14891.6 |
2008Q4 | 15340.8 | 14577.0 |
2009Q1 | 15398.6 | 14375.0 |
2009Q2 | 15449.3 | 14355.6 |
2009Q3 | 15496.2 | 14402.5 |
2009Q4 | 15539.8 | 14541.9 |
2010Q1 | 15579.5 | 14604.8 |
2010Q2 | 15618.0 | 14745.9 |
2010Q3 | 15655.5 | 14845.5 |
2010Q4 | 15692.9 | 14939.0 |
2011Q1 | 15733.5 | 14881.3 |
2011Q2 | 15772.6 | 14989.6 |
2011Q3 | 15812.7 | 15021.1 |
2011Q4 | 15854.5 | 15190.3 |
2012Q1 | 15897.9 | 15291.0 |
2012Q2 | 15946.0 | 15362.4 |
2012Q3 | 15997.3 | 15380.8 |
2012Q4 | 16051.8 | 15384.3 |
2013Q1 | 16111.6 | 15457.2 |
2013Q2 | 16174.8 | 15500.2 |
2013Q3 | 16239.7 | 15614.4 |
2013Q4 | 16305.6 | 15761.5 |
2014Q1 | 16369.9 | 15724.9 |
2014Q2 | 16433.5 | 15901.5 |
2014Q3 | 16496.9 | 16068.8 |
2014Q4 | 16560.0 | 16151.4 |
2015Q1 | 16622.4 | 16177.3 |
2015Q2 | 16684.3 | 16333.6 |
2015Q3 | 16746.4 | 16414.0 |
2015Q4 | 16809.3 | 16455.1 |
Note: Shaded areas denote recessions.
Source: Author’s analysis of data from BEA NIPA Table 1.1.6 and the Congressional Budget Office (on potential gross domestic product)