Archive for the 'BEA News' Category

Personal Saving Increases in February

pi-blog-feb-tablePersonal income increased 0.4 percent in February, the same increase as in January. Wages and salaries, the largest component of personal income, increased 0.5 percent in February after increasing 0.6 percent in January.

Current-dollar disposable personal income (DPI), after-tax income, increased 0.4 percent in February after increasing 1.0 percent in January.

Real DPI, income adjusted for taxes and inflation, increased 0.2 percent in February after increasing 0.6 percent in January.

Real consumer spending (PCE), spending adjusted for price changes, was unchanged in February after decreasing 0.2 percent in January. Spending on durable goods increased 0.6 percent in February after decreasing 1.6 percent in January.

PCE prices increased 0.2 percent in February after increasing 0.4 percent in January. Excluding food and energy, PCE prices increased 0.2 percent in February after increasing 0.3 percent in January.

Personal saving rate
Personal saving as a percent of DPI was 3.4 percent in February after 3.2 percent in January.

For more information, read the full report.


GDP Increases in Fourth Quarter

Real gross domestic product (GDP) increased 2.9 percent in the fourth quarter of 2017, according to the “third” estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.2 percent.

Q2Q Real GDP March28

Fourth‐quarter GDP highlights
The increase in real GDP reflected increases in consumer spending, business investment, exports, government spending, and housing investment.

These contributions were partly offset by a decline in private inventory investment. Imports, which are a subtraction in the calculation of GDP, increased.

RevisionsDomestic Purchases March 28
The upward revision to real GDP growth was accounted for by revisions to consumer spending on services and to private inventory investment.

Prices of goods and services purchased by U.S. residents increased 2.5 percent in the fourth quarter after increasing 1.7 percent in the third quarter. Excluding food and energy,
prices rose 2.0 percent after increasing 1.6 percent.

Corporate profitsQ2Q Corporate Profits March28
Profits decreased 0.1 percent at a quarterly rate in the fourth quarter after increasing 4.3 percent in the third quarter.

Profits of nonfinancial corporations
increased 1.5 percent in the fourth quarter, profits of financial corporations decreased 3.0 percent, and profits from the rest of the world decreased 1.3 percent.

For more information, read the full report.

State Personal Income Rises in 2017

State personal income increased 3.1 percent on average in 2017, after increasing 2.3 percent in 2016. In 2017, personal income increased in all states and the District of Columbia except one, North Dakota. The percent change in personal income across all states ranged from 4.8 percent in Washington to -0.3 percent in North Dakota.

Personal Income March22

  • Earnings increased 3.1 percent in 2017 and was a leading contributor to growth in personal income in most states, including the five fastest growing states—Washington, Idaho, Nevada, Utah, and Arizona.
  • For the nation, earnings increased in 22 of the 24 industries for which BEA prepares estimates. Earnings growth in three industries—health care and social assistance; professional, scientific, and technical services; and construction—were the leading contributors to overall growth in personal income.
  • State personal income increased 1.1 percent on average in the fourth quarter of 2017, after increasing 0.8 percent growth in the third quarter. The percent change in personal income across all states ranged from 1.5 percent in Nevada to 0.2 percent in North Dakota.

For more information, read the full report.

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