Personal Income Increases in October

Personal income increased 0.4 percent in October, after increasing 0.2 personal income chart nov 25percent in September. Wages and salaries, the largest component of personal income increased 0.6 percent in October after remaining flat in September.

Current-dollar disposable personal income (DPI), after-tax income, increased 0.4 percent in October after increasing 0.2 percent in September.

Real DPI, income adjusted for taxes and inflation, increased 0.4 percent in October after increasing 0.3 percent in September.

Real consumer spending (PCE), spending adjusted for price changes, increased 0.1 percent in October, the same increase as in September.

PCE prices increased 0.1 percent in October after decreasing 0.1 percent in September. Excluding food energy, PCE prices remained flat in October after increasing 0.2 percent in September.

Personal saving rate
Personal saving as a percent of DPI was 5.6 percent in October and 5.3 percent in September.

For more information, read the full report.

personal income nov25


GDP Growth Rate Revised Up

Real gross domestic product (GDP) increased 2.1 percent in the third quarter of 2015, according to the “second” estimate released by the Bureau of Economic Analysis. The growth rate was revised up 0.6 percentage point from the “advance” estimate released in October. In the second quarter, real GDP increased 3.9 percent.

GDP highlightsScreen Shot 2015-11-24 at 8.42.35 AM
The third-quarter increase in real GDP mainly reflected a rise in consumer spending. Spending on nondurable and durable goods increased. Spending on services also increased, notably on health care.

Business investment, state and local government spending, residential investment, and exports also contributed to the increase in real GDP.

These contributions to real GDP growth were partly offset by a decline in inventory invest- ment, notably in manufacturing. Also, imports, a subtraction in the calculation of GDP, increased.

Real final sales of domestic product—GDP less inventory investment—increased 2.7 percent in the third quarter, compared with a 3.9 percent increase in the second quarter.

The revision to real GDP growth reflected an upward revision to private inventory investment that was partly off- set by downward revisions to consumer spending and to exports.

Corporate profitsScreen Shot 2015-11-24 at 8.43.31 AM
Corporate profits decreased 1.1 percent at a quar- terly rate in the third quarter after increasing 3.5 percent in the second quarter.

  •   Profits of domestic nonfinancial corporations increased 1.2 percent after increasing 1.9 percent.
  •   Profits of domestic financial corporations decreased 2.2 percent after increasing 9.6 percent.
  •   Profits from the rest of the world decreased 7.4 percent after increasing 2.9 percent.

    Over the last 4 quarters, corporate profits de- creased 4.7 percent.

For more information, read the full report.

BEA’s New and Existing Statistics Offer Economic Intel for Entrepreneurs and Business Community

What are consumer spending patterns in California compared to New York? Which states are attracting new foreign investment?  How are different industries in each state performing on a quarterly basis? Those are just a few examples of the kinds of new statistics that the Bureau of Economic Analysis (BEA) is producing to give entrepreneurs even more economic intelligence as they chart strategies on marketing, investing, and hiring.

These new statistics, which will soon be released, join a raft of existing BEA data that offer entrepreneurs, investors, policymakers, and households detailed insights into what is happening on the economic front in the United States, in states, metro areas, and counties, and in the global marketplace. BEA data also offer timely insights on the economic impact of major industries, such as finance, insurance, real estate, rental and leasing, manufacturing, and health care.

BEA’s existing economic statistics are available for free on our Web site, our interactive tables, and through our API. We also have some additional handy data tools to easily and quickly obtain fast facts on regional economic activity (BEARFACTS) as well as trade and investment activity between the United States and another country of your choosing (Country Facts).

In addition, BEA also has available a regional economic impact tool that enables entrepreneurs  and other business people to estimate the regional impacts of a variety of projects, such as the development of a new manufacturing plant or the construction and development of a sports stadium. That tool is called the Regional Input-Output Modeling System, or RIMS II, for short, and is available for a fee.

Debuting on November 30, BEA will release new statistics detailing new foreign direct investment in the United States. These statistics, which cover new direct investments initiated in 2014, will provide information on:

  • The total amount of new investment foreigners are making in the United States.
  • The industries that are drawing new foreign investment.
  • The states attracting new investments as well as the countries of the foreign owners.
  • The type of investment made—creating a new company or acquiring or expanding an existing one. “Greenfield” investment includes establishments of new companies by foreign investors and expansions of already existing companies.

Then, on December 1, BEA will begin producing on a regular basis another new set of statistics detailing how much consumers are spending in each state on goods and services, such as food and beverages, gasoline and other energy products, housing and utilities, and health care.

The data, called personal consumption expenditures by state, will provide statistics for 2014 back to 1997, a series that will give entrepreneurs and other business people useful information to analyze consumer buying trends over time.

One week later, BEA on December 10 will start producing on a regular basis yet another new set of statistics providing information on states’ economic performance each quarter, including which industries are helping or hindering economic activity.

Industries tracked include manufacturing, agriculture, mining, utilities, retail, transportation and warehousing, information, and finance and insurance. These new statistics called gross domestic product by state will provide data for the second quarter of 2015 back to the first quarter of 2005.