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Personal Income Rises in October

pi-chart

Personal income increased 0.6 percent in October after increasing 0.4 percent in September. Wages and salaries, the largest component of personal income, increased 0.5 percent in October—the same increase as in September.

Current-dollar disposable personal income (DPI), after-tax income, increased 0.6 percent in October after increasing 0.4 percent in September.

Real DPI, income adjusted for taxes and inflation, increased 0.4 percent in October after increasing 0.2 percent in September.

Real consumer spending (PCE), spending adjusted for price changes, increased 0.1 percent in October after increasing 0.5 percent in September. Spending on durable goods increased 1.0 percent in October after increasing 2.6 percent in September.

PCE prices increased 0.2 percent in October—the same increase as in September. Excluding food and energy, PCE prices increased 0.1 percent in October—the same increase as in September.

Personal saving rate
Personal saving as a percent of DPI was 6.0 percent in October and 5.7 percent in September.

For more information, read the full report. 

real-dpi-nov-30

GDP Increases in Third Quarter

Real gross domestic product (GDP) increased 3.2 percent in the third quarter of 2016, according to the “second” estimate released by the Bureau of Economic Analysis. The growth rate was 0.3 percentage point higher than the “advance” estimate released in October. In the second quarter, real GDP rose 1.4 percent.

Third‐quarter GDP highlights gdp-chart-nov-29
The increase in real GDP partly reflected an increase in consumer spending on household services, notably on housing and utilities.   Consumer spending on durable goods also increased, notably on motor vehicles and parts. However, spending on nondurable goods declined.

Exports of goods increased, notably in foods, feeds, and beverages and in consumer durable goods. Exports of services increased, mainly in travel. In addition, private inventory investment and federal government spending increased.

Offsetting these contributions to growth, housing investment and state and local government spending declined.

GDP update  
The upward revision to third‐quarter GDP growth reflected upward revisions to consumer spending and to housing investment that were partly offset by downward revisions to business investment and to inventory investment.

Corporate profits q2q-growth-nov-29
Profits increased 6.6 percent at a quarterly rate in the third quarter after decreasing 0.6 percent in the second quarter.

  • Profits of domestic nonfinancial corpora
    tions increased 6.5
    percent after decreasing
    4.6 percent.
  • Profits of domestic financial corporations rose 11.5 percent after rising 1.3 percent.
  • Profits from the rest of the world increased 1.6 percent after increasing 10.3 percent.

Over the last 4 quarters, corporate profits increased 2.8 percent.

For more information, read the full report.

New Guidance Materials for Private Funds Now Available

The Bureau of Economic Analysis and the Treasury Department are preparing to implement a change in early 2017 that will simplify how certain cross-border investments by or into private funds are reported on BEA surveys of direct investment and the Treasury International Capital, or TIC, surveys of portfolio investment.

New guidance materials to help private fund reporters determine how the change will affect their reporting requirements are now available. These new materials include frequently asked questions, or FAQs, and interactive decision tools that guide reporters, one question at a time, to help them determine their reporting obligations.

The FAQs and decision tools, along with additional information and resources on the change in reporting requirements for private funds, are available at www.bea.gov/privatefunds.


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