What is GDP and How is it Calculated  

GDP Genesis

GDP comes from the Commerce Department’s Bureau of Economic Analysis. Compiling it is a giant, difficult, never-ending task, one the BEA staff takes seriously. From time to time, we hear stories about political interference, but I think that unlikely. Too many people are involved to keep any such efforts secret.

The BEA has a handy, colorful, two-page sheet on its website that explains today’s GDP in big letters. Here is how they define it.

Source: BEA