Posts Tagged 'Bureau of Economic Analysis'

Real Consumer Spending Increases in October

Consumer Spending Nov26Personal income rose 0.2 percent in October, the same increase as in September. Wages and salaries, the largest component of personal  income, rose 0.3 percent in October after rising 0.2 percent in September.

Current-dollar disposable personal income (DPI), after-tax income, rose 0.2 percent in October after rising 0.1 percent in September.

Real DPI, income adjusted for taxes and inflation, increased 0.1 percent in October, the same increase as in September.

Real consumer spending, spending adjusted for price changes, increased 0.2 percent in October after remaining flat in September. Spending on nondurable goods increased 0.5 percent in October after decreasing 0.3 percent in September.

PCE prices increased 0.1 percent in October, the same increase as in September. Excluding food and energy, PCE prices increased 0.2 percent in October after increasing 0.1 percent in September.

Personal saving rate
Personal saving as a percent of DPI was 5.0 percent in October, the same as in September.

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Real Consumer Spending Nov26

GDP Increases in Third Quarter

Real gross domestic product (GDP) increased 3.9 percent in the third quarter of 2014, according to the “second” estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 4.6 percent.

Third-quarter highlightsQ to Q Growth in Real GDP Nov25
The increase in GDP in the third quarter reflected the following:

  • Consumer spending increased 2.2 percent. Spending on goods and services both increased.
  • Business investment rose, notably equipment and intellectual property products.
  • Federal government spending increased, mainly national defense spending.
  • Exports of goods increased, notably industrial supplies and materials.

In contrast, inventory investment declined in the third quarter.

Revisions
The 0.4 percentage point upward revision to the GDP growth rate was more than accounted for by an upward revision to nonfarm inventory investment, notably in the wholesale trade and retail trade industries. Consumer spending on goods and business investment in equipment also were revised up. Partly offsetting these upward revisions, exports were revised down, and imports were revised up.

For more information, see the technical note.

Corporate profits
Corporate profits increased 2.1 percent at a quarterly rate in the third quarter after increasing 8.4 percent in the second quarter.Q to Q Growth in Corporate Profits Nov25

  • Profits of domestic nonfinancial corporations increased 1.8 percent after increasing 11.9 percent.
  • Profits of domestic financial corporations increased 4.5 percent after increasing 8.0 percent.
  • Profits from the rest of the world increased 0.3 percent after decreasing 0.9 percent.

Over the last 12 months, corporate profits rose 0.4 percent.

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State Personal Income: Second Quarter 2014

State personal income growth accelerated to 1.5 percent on average in the second quarter of 2014 from 1.2 percent in the first quarter. Personal income growth ranged from 2.7 percent in North Dakota and Nebraska to 1.1 percent in New York and Alaska, with growth accelerating in 36 states. Inflation, as measured by the national price index for personal consumption expenditures, accelerated to 0.6 percent in the second quarter from 0.3 percent in the first quarter.

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