by Archana Subramaniam by CNB
Roanoke Times Copyright (c) 1995, Landmark Communications, Inc. DATE: SUNDAY, January 26, 1992 TAG: 9201280336 SECTION: ECONOMY PAGE: 14 EDITION: METRO SOURCE: Associated Press DATELINE: WASHINGTON LENGTH: Medium
A GLANCE AT HOW ECONOMY FARED IN '91
Here, at a glance, is a look at how the nation's economy fared in 1991:
Gross domestic product: The GDP, which measures the total output of goods and services, fell at an annual rate of 2.5 percent from January through March after a 3.9 percent decline in the final quarter of 1990.
The GDP turned upward slightly in the spring and summer, growing at an annual rate of 1.4 percent from April through June and 1.7 percent during the July-September quarter. The fourth quarter rate is to be released Wednesday.
Unemployment: In January, 7.7 million workers - 6.2 percent of the labor force - were jobless. But by the end of the year, 8.9 million Americans - 7.1 percent of the work force - were unemployed. The unemployment rate does not include the thousands of workers who have given up looking for new jobs.
Inflation: Inflation, measured by the Consumer Price Index, rose at an annual rate of just 3.1 percent last year, compared with 6.1 percent in 1990.
Disposable income: Americans' incomes after taxes fell 0.2 percent, when adjusted for inflation, as of November's figure, the latest available.
Consumer spending: Consumer spending, which represents two-thirds of the nation's economic activity, rose just 0.7 percent, when adjusted for inflation - from a $2.643 trillion rate in January to $3.95 annualized rate in November.
Factory orders: Factory orders totaled $243.7 billion in November, up 0.1 percent for the year to that point.