Archive for the 'BEA News' Category



Personal Income Rises in December

chart-personal-incomePersonal income increased 0.3 percent in December after increasing 0.1 percent in November. Wages and salaries, the largest component of personal income, increased 0.4 percent in December after decreasing 0.1 percent in November.

Current-dollar disposable personal income (DPI), after-tax income, increased 0.3 percent in December after increasing 0.1 percent in November.

Real DPI, income adjusted for taxes and inflation, increased 0.1 percent in December following no change in November.

Real consumer spending (PCE), spending adjusted for price changes, increased 0.3 percent in December after increasing 0.2 percent in November. Spending on durable goods increased 1.4 percent in December after decreasing 0.4 percent in November.

PCE prices increased 0.2 percent in December after increasing 0.1 percent in November. Excluding food and energy, PCE prices increased 0.1 percent in December following no change in November.

Personal saving rate
Personal saving as a percent of DPI was 5.4 percent in December and 5.6 percent in November.

For more information, read the full report.

dpi-and-real-consumer-spending

GDP Increases in Fourth Quarter

Real gross domestic product (GDP) increased 1.9 percent in the fourth quarter of 2016, according to the “advance” estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.5 percent.

Fourth‐quarter GDP highlights q2q-jan-27
The increase in real GDP reflected an increase in consumer spending, private inventory investment, residential investment, business investment, and state and local government spending. These contributions were partly offset by declines in exports and federal government spending. Imports, which are a subtraction in the calculation of GDP, increased.

Prices
Prices of goods and services purchased by U.S. residents increased 2.0 percent in the fourth quarter after increasing 1.5 percent in the third quarter. Excluding energy and food, prices rose 1.4 percent after increasing 1.7 percent.

Personal income and personal saving
Real disposable personal income—personal income adjusted for taxes and inflation—increased 1.5 percent in the fourth quarter after increasing 2.6 percent in the third quarter. Personal saving as a percentage of disposable personal income was 5.6 percent in the fourth quarter, compared with 5.8 percent in the third quarter.

Annual GDP growth   annual-growth-in-real-gdp-jan-27
For the year 2016, real GDP increased 1.6 percent, compared with 2.6 percent in 2015.        The increase in real GDP in 2016 reflected increases in consumer spending, residential investment, state and local government spending, exports, and federal government spending.   These contributions were partly offset by declines in private inventory investment and business investment. Imports increased.      Prices of goods and services purchased by U.S residents increased 1.0 percent in 2016, compared with an increase of 0.4 percent in 2015. Excluding food and energy, prices increased 1.4 percent after increasing 1.1 percent.

For more information, read the full report.

Gross Domestic Product by Industry: Third Quarter 2016

Finance and insurance; wholesale trade; and information services were the leading contributors to the increase in U.S. economic growth in the third quarter of 2016. Overall, 20 of 22 industry groups contributed to the 3.5 percent increase in real GDP in the third quarter.

real-gdp-and-real-value-added-by-sector-jan-2017

  • Finance and insurance increased 9.0 percent in the third quarter, after decreasing 0.1 percent in the second quarter.
  • Wholesale trade increased 8.3 percent, after increasing 1.0 percent.
  • Information services increased 8.6 percent, after decreasing 0.2 percent.

real-value-added-by-industry-2017

For more information, read the full report.


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