Posts Tagged 'gross domestic product'



GDP Increases in Third Quarter

Real gross domestic product (GDP) increased 1.5 percent in the third quarter of 2015, according to the “advance” estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 3.9 percent.

GDP highlightsQ2Q GDP 1029
The third-quarter increase in real GDP mainly reflected a rise in consumer spending. Spending on services increased, notably on health care. Spending on nondurable and durable goods also rose.

State and local government spending, business investment, exports, and residential investment also contributed to the increase in GDP.

Partly offsetting these contributions to GDP growth, private inventory investment fell, mainly in wholesale trade and in manufacturing.

Final sales of domestic product—GDP less inventory investment—increased 3.0 percent in the third quarter.

Personal income and saving
Real disposable personal income (DPI), which adjusts for taxes and inflation, rose 3.5 percent in the third quarter after increasing 1.2 percent in the second quarter.

Personal saving as a percentage of DPI was 4.7 percent in the third quarter, following 4.6 percent in the second quarter.

PricesQ2Q PERCENT 1029
Prices of goods and services purchased by U.S. residents—gross domestic purchases prices— increased 1.3 percent in the third quarter after increasing 1.5 percent in the second quarter.

Prices of energy goods and services turned down in the third quarter, while food prices turned up.

Excluding food and energy, gross domestic purchases prices increased 1.3 percent in the third quarter after increasing 1.2 percent in the second quarter.

For more information, read the full report.

Widespread Growth in the Far West Region

WEST GDP

  • Real GDP expanded in 44 of the 52 MSAs wholly contained in this region. Professional scientific, and technical services contributed the most to growth in real GDP for the region. This region accounts for 20.4 percent of the nation’s current-dollar GDP in professional, scientific, and technical services. By contrast, mining restrained growth in the region’s GDP.
  • Grants Pass, OR and Corvallis, OR experienced the largest upturns in real GDP growth due to growth in durable goods manufacturing and the government sector, respectively. Grants Pass, OR growth improved to 5.4 percent in 2014 from – 1.7 percent in 2013 (7.1 percentage points), while Corvallis, OR growth improved to -0.7 percent in 2014 from -7.1 percent in 2013 (6.4 percentage points).
  • Growth in real GDP ranged from -2.1 percent to 6.7 percent with the fastest growth occurring in San Jose-Sunnyvale-Santa Clara, CA and Bend-Redmond, OR. Growth in each of these metropolitan area was spurred by durable goods manufacturing and construction, respectively.
  • Los Angeles-Long Beach-Anaheim, CA and San Francisco-Oakland-Hayward, CA- the two largest metropolitan areas in the region, and the 2nd and 7th largest in the nation – experienced growth (2.3 percent and 5.2 percent, respectively), due to growth in real estate and rental and leasing and professional, scientific, and technical services, respectively.

GDP Increases in Second Quarter

Real gross domestic product (GDP) increased 3.7 percent in the second quarter of 2015, according to the “second” estimate released by the Bureau of Economic Analysis. The growth rate was revised up 1.4 percentage points from the “advance” estimate released in July. In the first quarter, real GDP increased 0.6 percent.

GDP highlightsQ2Q Growth Aug 27
The second-quarter increase in real GDP mainly reflected an increase in consumer spending. Spending on services, nondurable goods, and durable goods increased.

Exports, state and local government spending, business investment, residential investment, and inventory investment also contributed to the increase in real GDP.

These contributions to the increase in real GDP were partly offset by a rise in imports, mainly in autos and auto parts. (Imports are subtraction in the calculation of GDP.)

Revisions
The upward revision to second-quarter GDP growth reflected upward revisions to business investment (all three major categories), inventory investment, state and local government spending, and consumer spending.

For more information, see the technical note.

Corporate profitsQ2Q Profits Aug 27
Corporate profits increased 2.4 percent at a quarterly rate in the second quarter after decreasing 5.8 percent in the first quarter.

  • Profits of domestic nonfinancial corporations increased 1.3 percent after decreasing 5.3 percent.
  • Profits of domestic financial corporations increased 9.4 percent after decreasing 6.1 percent.
  • Profits from the rest of the world decreased 0.7 percent after decreasing 6.9 percent.

Over the last 4 quarters, corporate profits decreased 0.5 percent.

For more information, read the full report.


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