Archive for the 'U.S. Bureau of Economic Analysis' 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.

 

May 2017 Trade Gap is $46.5 Billion

The U.S. monthly international trade deficit decreased in May 2017 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $47.6 billion in April (revised) to $46.5 billion in May, as exports increased and imports decreased. The previously published April deficit was $47.6 billion. The goods deficit decreased $0.9 billion in May to $67.5 billion. The services surplus increased $0.2 billion in May to $21.0 billion.

Goods and Services July 6

Exports
Exports of goods and services increased $0.9 billion, or 0.4% percent, in May to $192.0 billion. Exports of goods increased $0.2 billion and exports of services increased $0.6 billion.

  • The increase in exports of goods mostly reflected increases in consumer goods ($0.9 billion) and in automotive vehicles, parts, and engines($0.6 billion). A decrease in foods, feeds, and beverages($0.7 billion) partly offset the increases.
  • The increase in exports of services mostly reflected increases in travel (for all purposes including education) ($0.3 billion) and in financial services($0.2 billion).

Imports
Imports of goods and services decreased $0.2 billion, or 0.1%percent, in May to $238.5 billion. Imports of goods decreased $0.6 billion and imports of services increased $0.4 billion.

  • The decrease in imports of goods mostly reflected decreases in consumer goods ($1.5 billion) and in automotive vehicles, parts, and engines($0.7 billion). An increase in capital goods ($1.3 billion) partly offset the decreases.
  • The increase in imports of services mostly reflected an increase in travel (for all purposes including education)($0.2 billion).

For more information, read the full report.

 

 

Finance and Insurance Led Growth in the Fourth Quarter

Finance and insurance; retail trade; and professional, scientific, and technical services were the leading contributors to the increase in U.S. economic growth in the fourth quarter of 2016. Overall, 19 of 22 industry groups contributed to the 2.1 percent increase in real GDP in the fourth quarter.

GDP By industry April 21 2017

  • Finance and insurance increased 6.3 percent in the fourth quarter, after increasing 9.0 percent in the third quarter.
  • Retail trade increased 5.7 percent, after increasing 2.6 percent.
  • Professional, scientific, and technical services increased 3.6 percent, after increasing 2.6 percent.

Real Value Added by Industry April 21 2017

For more information, read the full report.


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

Archives