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GDP Increases in Fourth Quarter

Real gross domestic product (GDP) increased 2.1 percent in the fourth quarter of 2016, according to the “third” estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.5 percent.

Fourth‐quarter GDP highlights Q2Q Growth March 30
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.

Revisions Q2Q percent change march 30
The upward revision to real GDP growth was more than accounted for by an upward revision
to consumer spending, largely in services. This upward revision was partly offset by downward revisions to business investment and to exports.

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 1.6 percent after increasing 1.7 percent.

Corporate profits Q2Q Corporate Profits March 30
Profits increased 0.5 percent at a quarterly rate in the fourth quarter after increasing 5.8 percent in the third quarter.

Profits of nonfinancial corporations decreased 4.9 percent in the fourth quarter, profits of financial corporations increased 5.4 percent, and profits from the rest of the world increased 11.0 percent.

For more information, read the full report.

U.S. Net International Investment Position Fourth Quarter 2016

The U.S. net international investment position decreased to −$8,109.7 billion (preliminary) at the end of the fourth quarter of 2016 from −$7,807.3 billion (revised) at the end of the third quarter.

Assets and Liabilities March 29

  • The net investment position decreased $302.3 billion or 3.9 percent in the fourth quarter, compared with an increase of 2.7 percent in the third quarter and an average quarterly decrease of 6.0 percent from the first quarter of 2011 through the second quarter of 2016.
  • U.S. assets decreased $954.8 billion to $23,916.7 billion at the end of the fourth quarter, reflecting a $566.1 billion decrease in financial derivatives and a $388.7 billion decrease in assets excluding financial derivatives. The decrease in assets excluding financial derivatives mostly reflected decreases in portfolio investment and other investment assets.
  • U.S. liabilities decreased $652.5 billion to $32,026.3 billion at the end of the fourth quarter, reflecting a $572.2 billion decrease in financial derivatives and an $80.3 billion decrease in liabilities excluding financial derivatives. The decrease in liabilities excluding financial derivatives reflected decreases in portfolio investment and other investment liabilities that were partly offset by an increase in direct investment liabilities.

For more information, read the full report.

State Personal Income, 2016

State personal income grew on average 3.6 percent in 2016, after increasing 4.5 percent in 2015. Growth of state personal income—the sum of net earnings by place of residence, property income, and personal current transfer receipts—ranged from –1.7 percent in Wyoming to 5.9 percent in Nevada.

Personal Income March 28

Personal Income chart March 28

For more information, read the full report.


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