Real GDP

Which option is accurate about New York State’s Real GDP?

• Current-dollar GDP measures production at prevailing prices and therefore combines quantity and price effects.
• BEA revisions are part of normal statistical production and make publication dates essential metadata for state-economy research.
• A seasonally adjusted annual rate expresses a quarter’s pace as if sustained for a year and should not be read as literal quarterly production.
• Real GDP uses chained-dollar methods to estimate changes in production while reducing the effect of price changes.