Guam GDP increases in 2015

HAGÅTÑA, Guam — The Bureau of Economic Analysis released on Sept. 22 estimates of gross domestic product for Guam, showing that real GDP increased 0.4% in 2015 after increasing 1.3% in 2014.

Consumer spending continued to increase, supported by growth in compensation and decreases in consumer prices.

Exports of services, which consist primarily of spending by tourists, grew for the second consecutive year. The increase reflected growth in Korean visitor arrivals and average spending by Korean tourists.

Federal government spending reflected growth in defense construction spending. Major projects included fuel pipeline and aircraft maintenance hangar construction to . . .

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