Posts Tagged 'real gross domestic product'

Travel and Tourism Spending Decelerated in the Third Quarter of 2015

Real spending (output) on travel and tourism decelerated in the third quarter of 2015, increasing at an annual rate of 4.3 percent after increasing 8.4 percent (revised) in the second quarter of 2015. Real gross domestic product (GDP) also decelerated, increasing 2.1 percent (second estimate) in the third quarter after increasing 3.9 percent.

The leading contributors to the deceleration in the third quarter were “traveler accommodations” and “recreation and entertainment.” Real spending on “traveler accommodations” decelerated, increasing 4.0 percent in the third quarter after increasing 13.5 percent (revised) in the second quarter. Real spending on “recreation and entertainment” turned down, declining 8.1 percent, after increasing 5.6 percent in the previous quarter.

Real Tourism Spending 1216

Tourism Prices. Price growth for travel and tourism goods and services turned down in the third quarter of 2015, decreasing 0.3 percent following an increase of 0.5 percent (revised) in the second quarter.  The downturn was mainly attributable to a downturn in “all other transportation-related commodities,” which includes gasoline, travel arrangements and reservation services, and automotive rental. This commodity group decreased 0.2 percent after increasing 14.4 percent in the second quarter. Prices for “traveler accommodations” turned up in the third quarter, partially offsetting the downturn in prices for “all other transportation-related commodities.”
Tourism Prices 1216

For more information, read the full report.

 

 

 

Finance and Insurance Led Growth in the Second Quarter: Gross Domestic Product by Industry

Finance and insurance; professional, scientific, and technical services; and wholesale trade were the leading contributors to the increase in U.S. economic growth in the second quarter of 2015. Overall, 18 of 22 industry groups contributed to the 3.9 percent increase in real GDP in the second quarter.

Real GDP by Industry 1105

  • Finance and insurance increased 12.4 percent in the second quarter, after decreasing 3.8 percent in the first quarter.
  • Professional, scientific, and technical services increased 7.6 percent, after increasing 4.4 percent.
  • Wholesale trade increased 8.4 percent, after decreasing 1.0 percent.

GDP By industry pt2 1105

For more information, read the full report.

GDP Increases in Second Quarter

Real gross domestic product (GDP) increased 3.9 percent in the second quarter of 2015, according to the “third” estimate released by the Bureau of Economic Analysis. The growth rate was revised up 0.2 percentage point from the “second” estimate released in August. In the first quarter, real GDP increased 0.6 percent.

GDP highlights
The second-quarter increase in real GDP mainly reflected a rise in consumer spending. Spending on services rose, notably  on health care and food services and accommodations. Spending on nondurable goods also rose, as did spending on durable goods, notably on motor vehicles and parts. Q2Q Real GDP Sept25

Exports of goods also increased, notably industrial supplies and materials. Business investment, state and local government spending, and residential investment also rose.

Offsetting these contributions to GDP growth, imports, a subtraction in the calculation of GDP, increased.

Revisions
The revision to second-quarter GDP growth reflected upward revisions to: consumer spending, mainly spending on services; business investment, notably in structures; and residential investment.

These contributions were partly offset by a downward revision to inventory investment.

For more information, see the technical note.

Corporate profits
Corporate profits increased 3.5 percent at a quarterly rate in the second quarter after decreasing 5.8 percent in the first quarter.profits sept 25

  • Profits of domestic nonfinancial corporations rose 1.9 percent after falling 5.3 percent.
  • Profits of domestic financial corporations rose 9.6 percent after falling 6.1 percent.
  • Profits from the rest of the world rose 2.9 percent after falling 6.9 percent.

Over the last 4 quarters, corporate profits increased 0.6 percent.

For more information, read the full report.


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