Archive for the 'BEA' Category

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.

 

Personal Income Increases in July

Personal income increased 0.4% in July after showing no change Personal Income Chart Aug 31
in June. Wages and salaries, the largest component of personal income, increased 0.5 percent in July, the same increase as in June.

Current-dollar disposable personal income (DPI), after-tax income, increased 0.3 percent in July after remaining unchanged in June.
Real DPI, income adjusted for taxes and inflation, increased 0.2 percent in July after showing no change in June.

Real consumer spending (PCE), spending adjusted for price changes, increased 0.2 percent in July, the same increase as in June. Spending on durable goods increased 0.8 percent in July,
the same increase as in June.

PCE prices increased 0.1 percent in July after showing no change in June. Excluding food and energy, PCE prices increased 0.1 percent in July, the same increase as in June.

Personal saving rate
Personal saving as a percent of DPI was 3.5 percent in July and
3.6 percent in June.

Real Disposable Personal Income Aug31

For more information, read the full report.

In-depth Data on Foreign Investment Get an Update

The Bureau of Economic Analysis has updated its most detailed data on foreign-owned businesses in the United States, providing an extraordinary level of detail for researchers and others interested in the effects of foreign direct investment in U.S. states and specific industries.

The new data reflect industry categories applied down to the level of individual establishments – such as each foreign-owned office, factory, or hotel – for the year 2007. The statistics are the result of a periodic, complex project that merges BEA and Census Bureau datasets. Although the resulting statistics are produced with a time lag, there is unique value in their in-depth look at foreign investment by industry, state, and country of ownership.

The establishment-level data is broken down into more than 1,000 industry categories, compared with about 200 industry categories in other BEA data on foreign direct investment.

For all foreign-owned establishments, there are statistics on employment, payroll and shipping or sales. There are additional statistics for manufacturing establishments, including value added, total compensation of employees, employee benefits, hourly wage rates of production workers, and expenditures for new plants and equipment.

For example, 2,237 people worked in foreign-owned seafood processing plants in Alaska in 2007. There were 400 French-owned clothing stores in the United States. And shipments or sales from Japanese-owned establishments in Indiana were valued at $23.2 billion.

The project links BEA’s less-detailed data on foreign-owned companies with Census’ establishment-level data on all companies in the United States. The previous release of establishment data for foreign direct investment covered 2002.

A U.S. business is defined as a foreign-owned U.S. affiliate if it is owned 10 percent or more, either directly or indirectly, by a foreign entity.


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