Synopsis Analyzing the components of spending by consumers C firms I the government G and net exports is important in determining the near future development of the real Gross Domestic Product GDP This report examines how the components listed above are predicted to evolve and change in the near future This report only focused on estimates for the short term 6 months to 1 year and medium term 2 to 3 years periods Most data analyzed came from the U S Department of Commerce Bureau of Economic Analysis and the data for each year was divided into four quarters In this report data from 2017 will be examined specifically that of data from quarter 1 to quarter 3 as data for the fourth quarter of 2017 is still being processed When it was applicable historical data was compared and contrasted with current data Through this analysis of current and historical data of the different components it can be predicted that the real GDP as a whole will increase for the short and medium term in the future These predictions will be discussed in the following sections for each component Personal Consumption Expenditures Overview Description The first spending component of real GDP to be analyzed is the sum of spending by consumers Personal consumption expenditures can be described as
