Posts Tagged 'Bureau of Economic Analyis'

Consumer Spending Falls in September

Personal Income rose 0.2 percent in September after rising 0.3 percent in August. Wages and salaries, the largest component Consumer spending chartof personal income, rose 0.2 percent in September after rising 0.5 percent in August.

Current-dollar disposable personal income (DPI), after-tax income, rose 0.1 percent in September after rising 0.3 percent in August.

Real DPI, income adjusted for taxes and inflation, remained flat in September after increasing 0.3 percent in August.

Real consumer spending, spending adjusted for price changes, decreased 0.2 percent in September after increasing 0.5 percent in August. Spending on durable goods decreased 1.9 percent in September after increasing 2.3 percent in August.

PCE prices increased 0.1 percent in September after decreasing 0.1 percent in August. Excluding food and energy, PCE prices increased 0.1 percent in September, the same increase as in August.

Personal saving rate
Personal saving as a percent of DPI was 5.6 percent in September and 5.4 percent in August.

Read the full report.

Real Disposable Personal Income and Real Consumer Spending

BEA Stats Offer Interesting Nuggets about U.S. Factories in Recognition of Manufacturing Day

Today is Manufacturing Day and that’s the perfect time to brush up on your factory factoids. Here are some data nuggets produced by the Bureau of Economic Analysis that might surprise you:bea-manufacturing-by-state

The first two facts come from BEA’s GDP by industry data, which are now available on a quarterly basis. The next installment comes out Nov. 13. The third one comes from BEA’s GDP accounts. And, data on exports of manufactured goods can be found in the monthly trade report produced jointly by BEA and the U.S. Census Bureau.

Want to know where manufacturing plays the biggest role in state and regional economies? You can rely on BEA data to answer that question.  

In 2013, Indiana ranked highest in the concentration of manufacturing, followed by Oregon, Louisiana, and North Carolina. According to the BEA’s GDP by metropolitan area data released Sept. 16, the Elkhart-Goshen, Indiana and Kokomo, Indiana metro areas had the highest manufacturing concentration in the nation, followed by the Lake Charles, Louisiana metro area.

Providing businesses and individuals with the statistics they need to compete in the global marketplace is one way that BEA is helping to unleash the power of data for American businesses. The Commerce Department’s ‘Open for Business Agenda’ prioritizes unleashing more data and making it more accessible so it can catalyze the emergence of new businesses, products, and services. Data from the Commerce Department, America’s data agency, enable start-ups, move markets, and power both small and multi-billion dollar companies.

GDP Growth Accelerates in Third Quarter

Real gross domestic product (GDP) increased 4.1 percent in the third quarter of 2013, according to the “third” estimate released by the Bureau of Economic Analysis. The growth rate was 0.5 percentage point more than the “second” estimate released earlier this month. In the second quarter, the growth rate was 2.5 percent.gdp1

GDP highlights
Inventory investment accelerated in the third quarter, accounting for about 40 percent of real GDP growth, compared with about 15 percent in the second quarter.

GDP less inventory investment (real final sales of domestic product) rose 2.5 percent in the third quarter, compared with 2.1 percent in the second

Also contributing to the acceleration in growth, imports rose less in the third quarter than in the second quarter. Spending by state and local governments and by consumers accelerated.

The upward revision to third-quarter GDP growth was largely accounted for by a revision to consumer spending—to 2.0 percent growth (third estimate), up from 1.4 percent (second estimate). That revision mainly reflected an upward revision to services, especially to health care and to recreation services. Consumer spending on nondurable goods was also revised up, mainly gasoline and other energy goods.

In addition, business investment was revised up, mainly in intellectual property products, specifically software.

Partially offsetting the upward revisions, residential investment was revised down.

Corporate profitsgdp2
The revised estimate of third-quarter corporate profits was little changed from the previous estimate. Profits increased 1.9 percent after increasing 3.3 percent in the second quarter.
• Profits of nonfinancial corporations rose 1.0 percent after rising 3.2 percent.
• Profits of financial corporations rose 2.1 percent after rising 5.7 percent.
• Profits from the “rest of the world” rose 4.1 percent after rising 1.2 percent.

Over the last four quarters, profits rose 5.7 percent.

For more on GDP, read the full report.