Archive for the 'BEA News' Category



Spending on Durable Goods Falls in August

Personal income increased 0.2 percent in August after increasing 0.3 percent in July. Personal Income Chart Wages and salaries, the largest component of personal income, was unchanged in August after increasing 0.5 percent in July.

Current -dollar disposable personal income (DPI), after-tax income, increased 0.1 percent
in August after increasing 0.2 percent in July
.
Real DPI, income adjusted for taxes and inflation, decreased 0.1 percent in August after

increasing 0.1 percent in July.

Real consumer spending (PCE), spending adjusted for price changes, decreased 0.1 percent in August after increasing 0.2 percent in July. Spending on durable goods decreased 1.0 percent in August after increasing 1.3 percent in July.

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

Personal saving rate
Personal saving as a percent of DPI was 3.6 percent in August, the same as in July.

For more information, read the full report.

Personal Income Graph

GDP Increases in Second Quarter

Real gross domestic product (GDP) increased 3.1 percent in the second quarter of 2017, according to the “third” estimate released by the Bureau of Economic Analysis. The growth rate was 0.1 percentage point more than the “second” estimate released in August. In the first quarter, real GDP increased 1.2 percent.

GDP highlights
The second‐quarter increase in real GDP reflected increases in consumer spending on goods and services as well as increases in business investment, exports, and federal government spending.

The increase in consumer spending was led by increases in housing and utilities; other Q2Q Real Growth Sept 28services, notably in communication services; and other nondurable goods, primarily in prescription drugs. The increase in business investment reflected
increases in all three components: equipment, structures, and intellectual property products.

Partly offsetting these increases were declines in housing investment and state and local government spending.

Updates to GDP
The revision to the third estimate of GDP growth mainly reflected an upward revision to private inventory investment, notably farm inventories. For more information see the technical note.

Corporate profits
Corporate profits increased 0.7 percent at a quarterly rate in the second quarter of 2017 Q2Q Corporate Profits Sept 28after decreasing 2.1 percent in the first quarter.

• Profits of domestic nonfinancial corporations increased 4.9 percent after increasing 0.3 percent.
• Profits of domestic financial corporations decreased 7.1 percent after decreasing 7.9 percent.
• Profits from the rest of the world (net) decreased 2.5 percent after decreasing 2.1
percent.

Corporate profits increased 6.4 percent from the second quarter of 2016.

For more information, read the full report.

 

U.S. Net International Investment Position Second Quarter 2017

The U.S. net international investment position increased to −$7,934.9 billion (preliminary) at the end of the second quarter from −$8,091.6 billion (revised) at the end of the first quarter. The $156.7 billion increase reflected net financial transactions of –$107.5 billion and net other changes in position, such as price and exchange-rate changes, of $264.2 billion.

Intl investment sept 27

  • The net investment position increased 1.9 percent in the second quarter, compared with an increase of 2.7 percent in the first quarter, and an average quarterly decrease of 5.6 percent from the first quarter of 2011 through the fourth quarter of 2016.
  • U.S. assets increased $1,004.2 billion to $25,937.6 billion, mostly reflecting increases in portfolio investment and direct investment assets due to the appreciation of major foreign currencies against the U.S. dollar that raised the value of assets in dollar terms and to financial transactions.
  • U.S. liabilities increased $847.5 billion to $33,872.5 billion, mostly reflecting increases in portfolio investment and direct investment liabilities due to financial transactions and price increases.

For more information read the full report.


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