The “advance” estimate for U.S. real gross domestic product (GDP) for the second quarter of 2018 expanded by a strong 4.1 percent annualized rate, the fastest pace in almost four years. Consumer spending, which accounts for two-thirds of real GDP, also grew strongly, which probably reflected somewhat the tax cut. U.S. nonfarm employment added a lower-than-expected 157,000 jobs … [Read more...]
Business Indicators: August 2018
The “third” estimate for U.S. real gross domestic product (GDP) for the first quarter of 2018 expanded at a 2.0 percent annualized rate, revised down from the second estimate of 2.2 percent. The downward revisions mainly reflected smaller-than-expected private inventory investment and personal consumption expenditure. U.S. nonfarm employment continued its surprising gain by … [Read more...]
Business Indicators: July 2018
The “second” estimate for U.S. real gross domestic product (GDP) for the first quarter of 2018 showed growth at an annual rate of 2.2 percent, down by 0.1 percentage point from the previous estimate of 2.3 percent. The downward revisions reflected smaller private inventory investment, residential fixed investment, and net exports, which were partly offset by a larger … [Read more...]
Business Indicators: June 2018
The “advance” estimate for U.S. real gross domestic product (GDP) for the first quarter of 2018 rose at an annual rate of 2.3 percent, a slower pace than the previous three consecutive quarters of about 3 percent. The first quarter real GDP growth, however, exceeded the first-quarter growth in recent years. The increase in real GDP largely reflected a moderate growth in … [Read more...]
Business Indicators: May 2018
The “third” estimate for U.S. real gross domestic product (GDP) for the fourth quarter of 2017 increased at an annual rate of 2.9 percent, up by 0.4 percentage point from the previous estimate. U.S. nonfarm employment added a disappointing 103,000 jobs in March after the large increase of 326,000 jobs in the last month. The unemployment rate remained at 4.1 percent for the … [Read more...]
Business Indicators: March 2018
The “advance” estimate for U.S. real gross domestic product (GDP) for the fourth quarter of 2017 increased at an annual rate of 2.6 percent after two consecutive quarters of above 3 percent growth. Average hourly earnings growth accelerated to 2.9 percent year-over year, its largest gain since the Great Recession thanks to a tightening labor market. Retail sales posted strong … [Read more...]
September 2017: Business Indicators
The “advance” estimate for U.S. real gross domestic product (GDP) for the second quarter of 2017 grew at a 2.6 percent annualized rate. Real GDP for the first quarter was revised downward to a 1.2 percent pace. Residential investment exhibited the largest decrease among the real GDP components for the second quarter, while consumer spending and business investment rebounded … [Read more...]
August 2017: Business Indicators
The “third” estimate for U.S. real gross domestic product (GDP) for the first quarter of 2017 implied a 1.4 percent annualized rate of growth, 0.2 percentage point higher than the “second” estimate of 1.2 percent. U.S. nonfarm employment rebounded by adding an impressive 222,000 jobs in June. Moreover, the previous two months of job gains were revised upward. The unemployment … [Read more...]
July 2017: Business Indicators
The “second” estimate for U.S. real gross domestic product (GDP) for the first quarter of 2017 grew at a 1.2 percent annualized rate, a half percentage point higher than the “first” estimate. The upward revision reflects larger gains in nonresidential fixed investment and personal consumption expenditure and smaller losses in state and local government spending. U.S. nonfarm … [Read more...]
June 2017: Business Indicators
The “advance” estimate for U.S. real gross domestic product (GDP) for the first quarter of 2017 grew at a weaker-than-expected 0.7 percent annualized rate. The biggest positive contribution came from private domestic investment, while consumer spending posted the slowest growth since the end of the Great Recession based on incomplete data. Weak consumer spending, in spite of … [Read more...]
May 2017: Business Indicators
The “third” estimate for U.S. real gross domestic product (GDP) for the fourth quarter of 2017 grew at a 2.1 percent annualized rate, up by 0.2 percentage point from the “second” estimate. According to more complete source data, consumer spending boosted real GDP more than expected. U.S. nonfarm employment added a less-than-expected 98,000 jobs in March. The unemployment rate, … [Read more...]
April 2017: Business Indicators
The “second” estimate for U.S. real gross domestic product (GDP) for the fourth quarter of 2017 grew at a 1.9 percent annualized rate, remaining unchanged from the “advance” estimate. According to more complete source data, consumer spending increased more strongly than previously thought, but increases in state and local government spending and nonresidential fixed investment … [Read more...]
March 2017: Business Indicators
The “advanced” estimate for U.S. real gross domestic product (GDP) for the fourth quarter of 2017 increased at a 1.9 percent annualized rate. Although the real GDP growth rate decelerated compared to last quarter’s 3.5 percent increase, the underlying categories showed more strength. Consumer spending stayed robust and business investment finally moved out of a negative or … [Read more...]
February 2017: Business Indicators
U.S. real gross domestic product (GDP) for the third quarter of 2016 increased at a 3.5 percent annualized rate. The surprising upswing of real GDP in the third quarter reflects a surge in agricultural (soybean) exports and a rebound in business inventories. The consumer price index also showed the largest jump in two years at 1.7 percent. November housing starts fell … [Read more...]
January 2017: Business Indicators
U.S. real gross domestic product (GDP) for the third quarter of 2016 grew at a 3.2 percent annualized rate instead of the 2.9 percent from the advanced estimate. The upward revision reflected higher consumer spending and net exports than previously reported, which were partly offset by smaller-than-expected fixed investment and state and local government spending. The … [Read more...]
December 2016: Business Indicators
U.S. real gross domestic product (GDP) for the third quarter of 2016 expanded at a 2.9 percent annualized growth rate based on the advanced estimate. This unusual and surprising jump after three quarters of sluggish growth reflects a surge in agricultural (soybean) exports and a rebound in business inventories, which bring doubt about continued strong growth in the fourth … [Read more...]
Business Indicators: November 2016
The U.S. real gross domestic product (GDP) grew at a 1.4 percent annual rate in the second quarter of 2016, revised up by 0.3 percentage point from the second estimate. The upward revisions mainly reflected an increase in nonresidential fixed investment, which decreased in the previous estimate. Large gains in consumer spending contributed to a rise in real GDP, while cutback … [Read more...]
Business Indicators: October 2016
The U.S. real gross domestic product (GDP) grew at a 1.1 annual rate in the second quarter of 2016, The increase in real GDP was mainly due to surprisingly large gains in consumer spending, while cutbacks in private business investment contributed to U.S. economic growth remaining stuck in the slow lane. In spite of lackluster business investment, U.S. nonfarm employment added … [Read more...]
Business Indicators: September 2016
The advanced estimate for U.S. real gross domestic product (GDP) for the second quarter of 2016 indicated a much weaker-than-expected growth of 1.2 percent. In addition, the first quarter’s real GDP growth was revised downward to 0.8 percent from 1.1 percent. Private investment, again, contributed negatively to U.S. economic expansion, falling by 9.7 percent from the previous … [Read more...]
Business Indicators: August 2016
The third estimate for U.S. real gross domestic product (GDP) for the first quarter of 2016 was revised upward to 1.1 percent annualized growth rate from the 0.8 percent second estimate. The revision occurred as more complete data showed that exports increased more than previously thought. Nevertheless, the stronger dollar, cheaper oil and a weaker global economy still … [Read more...]
