Archive for the 'GDP' Category



GDP Increases in First Quarter

“Third” estimate of GDP
Real gross domestic product (GDP) increased 1.1 percent in the first quarter of 2016, according to the “third” estimate released by the Bureau of Economic Analysis. The growth rate was 0.3 percentage point higher than the “second” estimate released last month. In the fourth quarter of 2015, real GDP increased 1.4 percent.  Q2Q growth in real GDP June 28

GDP highlights
The first‐quarter increase in real GDP mainly reflected an increase in consumer spending on services. Spending on household services increased, notably on health care and on housing and utilities. Consumer spending on nondurable goods also increased. However, consumer spending on durable goods declined, notably on motor vehicles and parts.

In addition, housing investment, state and local government expenditures, and exports each increased.

These positive contributions to GDP growth were partially offset by the following:

  • Business investment in equipment and in structures decreased.
  • Farm and nonfarm private inventory investment declined.
  • Federal government spending declined, notably on national defense spending.

Revisions
The upward revision to real GDP growth reflected upward revisions to exports and to business investment, which were partly offset by a downward revision to consumer spending. More information.

Corporate profits
Corporate profits increased 1.8 percent at a quarterly rate in the first quarter of 2016 after decreasing 7.8 percent in the fourth quarter of 2015.   Q2Q Corporate profits June 28

  • Profits of domestic nonfinancial corporations increased 6.4 percent after decreasing 10.2 percent.
  • Profits of domestic financial corporations decreased 3.0 percent after decreasing 6.0 percent.
  • Profits from the rest of the world decreased 7.2 percent after decreasing 1.7 percent.

Over the last 4 quarters, corporate profits decreased 4.3 percent.

For more information, read the full report.

Information Industry Group Led Growth Across States in the Fourth Quarter

Real gross domestic product (GDP) increased in 41 states and the District of Columbia in the fourth quarter of 2015, according to statistics on the geographic breakout of GDP released today by the Bureau of Economic Analysis. Real GDP by state growth, at an annual rate, ranged from 3.0 percent in Indiana to –3.4 percent in Wyoming. Information; construction; and professional, scientific, and technical services were the leading contributors to real U.S. economic growth in the fourth quarter.

GDP by State 061416

  • The information industry group grew 10.6 percent in the fourth quarter of 2015. This industry contributed 0.50 percentage point to U.S. real GDP growth and contributed to growth in 49 states and the District of Columbia. This industry was the leading contributor to growth in 16 states and contributed 0.90 percentage point to real GDP growth in California.
  • Construction grew 7.6 percent in the fourth quarter. This industry contributed 0.30 percentage point to U.S. real GDP growth and contributed to growth in 46 states and the District of Columbia. This industry contributed 1.02 percentage point to real GDP growth in Hawaii.
  • Professional, scientific, and technical services grew 3.9 percent in the fourth quarter—the 11th consecutive quarter of growth for this industry. This industry contributed 0.28 percentage point to real GDP growth for the nation and contributed to growth in 48 states. This industry contributed 0.92 percentage point to real GDP growth in the District of Columbia.

For more information, read the full report.

GDP Increases in Fourth Quarter

Real gross domestic product (GDP) increased 1.4 percent in the fourth quarter of 2015, according to the “third” estimate released by the Bureau of Economic Analysis. The growth rate was 0.4 percent point more than the “second” estimate released last month. In the third quarter, real GDP increased 2.0 percent.

GDP Highlightsq2q growth take 1
The fourth-quarter increase in real GDP largely reflected a rise in consumer spending. Spending on services increased, notably on recreation services and health care. Spending on durable goods also increased, notably on recreational goods and vehicles. Spending on nondurable goods also increased.

Residential investment and federal government spending also contributed to real GDP growth. In addition, imports, a subtraction in the calculation of GDP, decreased.

Partly offsetting these positive contributions were declines in business investment, exports, inventory investment, and state and local government spending.

Revisions
The upward revision to real GDP growth was mainly accounted for by an upward revision to consumer spending on services, notably on recreation services. Exports of goods and services were also revised up. Partly offsetting these upward revisions, private inventory investment was revised down, notably in manufacturing and retail trade.

Corporate profitsq2q cor
Profits decreased 7.8 percent at a quarterly rate in the fourth quarter after decreasing 1.6 percent in the third quarter.

Profits of nonfinancial corporations decreased 10.2 percent in the fourth quarter, profits of financial corporations decreased 6.0 percent, and profits from the rest of the world decreased 1.7 percent.

Annual corporate profits
For the full year 2015, corporate profits decreased 3.1 percent, after rising 1.7 percent in 2014.

Profits of nonfinancial corporations decreased 2.6 percent, profits of financial corporations fell 0.6 percent, and profits from the rest of the world fell 7.0 percent.

For more information, read the full report.


Enter your email address to follow this blog and receive notifications of new posts by email.

Archives