Posts Tagged 'BEA News'

Real Personal Income for Metropolitan Areas, 2013

Real personal income across all regions rose by an average of 0.8 percent in 2013. This growth rate reflects the year-over-year change in nominal personal income across all regions adjusted by the change in the national personal consumption expenditures (PCE) price index. On a nominal basis, personal income across all regions grew an average of 2.0 percent in 2013. In 2013, the U.S. PCE price index grew 1.2 percent.

Real Personal Income Metro July 1

Growth in real metropolitan area personal income in 2013 ranged from an increase of 4.8 percent in Sioux City, IA-NE-SD to a decline of 3.1 percent in New Bern, NC. After Sioux City, IA-NE-SD, the metropolitan areas with the largest growth rates were Janesville-Beloit, WI (4.6 percent), Danville, IL (4.4 percent), Monroe, MI (4.4 percent), and Boise City, ID (3.9 percent). After New Bern, NC, the metropolitan area with the largest declines were Beckley, WV (-3.0 percent), Fairbanks, AK (-2.9 percent), Peoria, IL (-2.9 percent), and Anniston-Oxford-Jacksonville, AL (-2.4 percent).

For more information, read the full report.

Real Consumer Spending Rises in May

June_25 thursdayPersonal income increased 0.5 percent in May, the same increase as in April. Wages and salaries, the largest component of  personal income, rose 0.5 percent in May after rising 0.3 percent in April.

Current-dollar disposable personal income (DPI), after-tax income, increased 0.5 percent in May after rising 0.4 percent in April.

Real DPI, income adjusted for taxes and inflation, increased 0.2 percent in May after increasing 0.4 percent April.

Real consumer spending (PCE), spending adjusted for price changes, increased 0.6 percent in May after remaining flat in April. Spending on durable goods increased 2.3 percent in May after decreasing 0.1 percent in April.

PCE prices increased 0.3 percent in May, after remaining flat in April. Excluding food and energy, PCE prices increased 0.1 percent in May, the same increase as in April.

Personal saving rate
Personal saving as a percent of DPI was 5.1 percent in May and 5.4 percent in April.Real DPI June 25For more information, read the full report.

First-Quarter GDP Revised Up

Real gross domestic product (GDP) decreased 0.2 percent in the first quarter of 2015, according to the “third” estimate released by the Bureau of Economic Analysis. The growth rate was revised up 0.5 percentage point from the “second” estimate released in May. In the fourth quarter of 2014, real GDP increased 2.2 percent.June 24 pt 2

GDP highlights
The first-quarter decline in real GDP reflected declines in exports of goods, notably capital goods as well as autos and parts; in business investment, notably in mining exploration, shafts, and wells; and in state and local government spending.

Partly offsetting the contributions to the decline in GDP, consumer spending on services rose, notably on health care and on housing and utilities. Also, inventory investment and housing investment rose.

Revisions
The percent change in first-quarter real GDP was revised up, mainly reflecting up revisions to exports, consumer spending, inventory investment, business investment, and state and local government spending. Partly offsetting these revisions, imports was revised up.

For more information, see the technical note.

Personal income and personal saving
Real disposable personal income (DPI) – personal income adjusted for inflation and taxes – increased 5.3 percent in the first quarter, compared with 4.1 percent in the fourth quarter. Personal saving as a percentage of current-dollar DPI was 5.4 percent, compared with 4.7 percent in the fourth quarter.

GDP June 24

Corporate profits
Corporate profits decreased 5.2 percent at a quarterly rate in the first quarter after decreasing 1.4 percent in the fourth quarter of 2014.

  • Profits of domestic nonfinancial corporations fell 6.1 percent after rising 1.4 percent.
  • Profits of domestic financial corporations fell 0.5 percent after falling 2.7 percent.
  • Profits from the rest of the world fell 7.7 percent after falling 8.8 percent.

Over the last 4 quarters, corporate profits increased 4.5 percent.

For more information, read the full report.