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2017-03-02 19:40:00

U.S. GDP UP 1.9%

U.S. GDP UP 1.9%

USA REAL GDP 2013 - 2016

BEAReal gross domestic product (GDP) increased at an annual rate of 1.9 percent in the fourth quarter of 2016. In the third quarter, real GDP increased 3.5 percent.

The GDP estimate released today is based on more complete source data than were available for the "advance" estimate issued last month. In the advance estimate, the increase in real GDP was also 1.9 percent. With the second estimate for the fourth quarter, the general picture of economic growth remains the same; the increase in personal consumption expenditures was larger and increases in state and local government spending and in nonresidential fixed investment were smaller than previously estimated.

The increase in real GDP in the fourth quarter reflected positive contributions from personal consumption expenditures (PCE), private inventory investment, residential fixed investment, nonresidential fixed investment, and state and local government spending. These increases were partly offset by negative contributions from exports and federal government spending. Imports, which are a subtraction in the calculation of GDP, increased. 

The deceleration in real GDP in the fourth quarter primarily reflected a downturn in exports, an acceleration in imports, and a downturn in federal government spending that were partly offset by an upturn in residential fixed investment, an acceleration in private inventory investment, and an upturn in state and local government spending. 

Current-dollar GDP increased 3.9 percent, or $180.2 billion, in the fourth quarter to a level of $18,855.5 billion. In the third quarter, current-dollar GDP increased 5.0 percent, or $225.2 billion.

The price index for gross domestic purchases increased 1.9 percent in the fourth quarter, compared with an increase of 1.5 percent in the third quarter. The PCE price index increased 1.9 percent, compared with an increase of 1.5 percent. Excluding food and energy prices, the PCE price index increased 1.2 percent, compared with an increase of 1.7 percent.

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Earlier: 

U.S. GDP UP 1.6% 

U.S. DEFICIT: $113 BLN 

AMERICAN ENERGY SECURITY 

U.S. GDP UP 0.7% 

USA GDP UP 2.3%

 

 

Tags: IRAN, OIL, EXPORT, RUSSIA

Chronicle:

U.S. GDP UP 1.9%
November, 22, 11:05:00

NIGERIA & CHEVRON PROJECT &1.7 BLN

Nigerian National Petroleum Corporation (NNPC) and Chevron Nigeria Limited (CNL) have executed the second and final phase of an Alternative Financing Agreement that would increase crude oil production in the country by about 39,000 barrels per day.

U.S. GDP UP 1.9%
November, 22, 11:00:00

MAERSK-AKER-HALLIBURTON ALLIANCE

OGJ - Maersk Drilling and Aker BP announced a drilling rig alliance based on a tripartite collaboration model that also includes service provider Halliburton Co.

U.S. GDP UP 1.9%
November, 20, 09:35:00

OIL PRICE: ABOVE $62 YET

REUTERS - Brent crude futures LCOc1, the international benchmark for oil prices, were at $62.56 per barrel at 0439 GMT, down 16 cents, or 0.3 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $56.59 a barrel, up 4 cents, or 0.1 percent, from their last settlement.

U.S. GDP UP 1.9%
November, 20, 09:30:00

ROSNEFT'S WORLD RECORD: 15000 M

Rosneft as a member of Sakhalin-1 Consortium successfully completed drilling of the world's longest well from Orlan platform at Chaivo field in the Sea of Okhotsk. The length of the well with horizontal completion is 15000 m which currently is a world record. This is a supercomplex well with DDI (Directional drilling index) of 8.0 and 14,129 m stepout.

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