Gross Domestic Product Contracts at 0.9% Pace

Real gross domestic product decreased at an annual rate of 0.9 percent in the second quarter–the second consecutive quarter with a decline–the Bureau of Economic Analysis said Thursday.

MBA Chart of the Week: Relative GDP Levels

The pace of economic growth, as measured by gross domestic product in the first quarter, picked up to a 6.4 percent annualized rate – the biggest first-quarter increase since 1984. We expect that pace to accelerate further over the next 6 months, as households unleash the pent-up demand for a range of goods and services.

1Q GDP Report Shows Accelerating Economy

Real gross domestic product increased at an annual rate of 6.4 percent in the first quarter—the fastest such pace in more than 36 years—according to the first (advance) estimate released by the Bureau of Economic Analysis.

Real Estate Economists Expect Short-Lived Recession

The COVID-19 crisis has shocked markets everywhere, but some U.S. real estate economists expect a short-lived recession and above-average GDP growth in 2021 and 2022, said the Urban Land Institute, Washington, D.C.