Now, Japan is stuck at the 70% of US GDP found by most wealthy countries.
From 1917 onwards, he explained, advertising has always made up around 2% of US GDP.
Investors were disappointed by the advance reading on US GDP for the fourth quarter.
What is going to be the effect on the US GDP of strong global economic growth?
And revised figures for US GDP show that it fell by 0.5% in the third quarter of 2008.
This is Japanese GDP per member of the labor force divided by US GDP per member of the labor force.
As Bhaskar points out 40% of global GDP comes from emerging markets, yet only 10% of US GDP comes from these areas.
The latest Q1 US GDP growth estimate was revised down to 1.9%.
This chart shows US GDP per capita from 1948-58 and Russian GDP per capita from 1998-2008 (the last year available in the dataset).
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Final quarter-over-quarter US GDP figures surprisingly dropped to a reading of 2.7% showing the recovery may not be as strong as previously suggested.
Our simplistic, static and misaligned incentive system has succeeded at one thing in addition to gobbling up ever increasing amounts of US GDP: stifling creativity.
At the launch of iPhone 5, economists speculated that this one model would add between one quarter and one half percent to US GDP growth.
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Most states contributed positively to US GDP growth in 2011.
The report further finds that an effort by the US to help women catch up with men in the labor market would boost the US GDP by 5 percent.
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The US GDP data was definitely not favorable to either the dollar or to risk appetite and as a result there was some safe haven buying present in the yen.
California has gotten its share of media attention (and Schadenfreude) over its poor economy and poorer fiscal situation though to be fair, it was among the bigger contributors to 2011 US GDP.
Fortunately, it was those same areas that snapped back the fastest in October, because we saw very good US GDP numbers for the third quarter, surprisingly good, and actually economists were raising their GDP forecast for this fourth quarter.
But there are so many more factors at play, including those from the 78% of non-US world GDP.
That big cut in government spending pulled US real GDP growth down to a revised 0.1% increase in Q4 2012.
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So, if US real GDP growth is a half percentage point less than expected and nominal GDP is reduced by a similar proportion (assuming no change in inflation), than tech purchases would be 0.5% to 0.75% lower.
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This compares well not only to European debt levels of well over 100 percent of GDP but to the US debt level which stands at 98 percent of GDP.
That is in dollar terms, but even as a percentage of GDP, US government spending has been at its highest levels since World War II.
Most of us would define recovery as GDP growth, rising employment, higher incomes, and a stock market going up 10% a year.
Given the sovereign debt turmoil in the Eurozone and the approaching debt problems for the US (as the US debt-to-GDP figures escalate over 100% by mid-2012 without accounting for state unfunded pension liability), debtor nations will find it difficult to finance large-scale consumption economies any longer.
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The IMF says that public sector gross debt as a percentage of GDP for the US was 91.6% last year, rising to 99.5% in 2011 and is forecast to come in at 102.9% in 2012, despite assuming that the overall fiscal deficit declines by 3 percentage points to 7.1% of GDP.
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And he recently proposed to Congress a plan that even the Republican analysts who looked at the evidence, as opposed to the rhetoric, say will add between 1.5 and 2 percent to our GDP and help us to get out of this mess we're in and enable America to help the world again.
With a savings rate of barely 4% of GDP, the average US household is unlikely to be over-saving.
No surprise to us sentiment sniffers, because the GDP growth rate had also been running at about 5%.
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