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2017-10-30 11:35:00

U.S. GDP UP 3%

U.S. GDP UP 3%

BEAReal gross domestic product (GDP) increased at an annual rate of 3.0 percent in the third quarter of 2017, according to the "advance" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 3.1 percent.

The third-quarter advance estimate released today is based on source data that are incomplete or subject to further revision by the source agency . The "second" estimate for the third quarter, based on more complete data, will be released on November 29, 2017. 

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

The deceleration in real GDP growth in the third quarter primarily reflected decelerations in PCE, in nonresidential fixed investment, and in exports that were partly offset by an acceleration in private inventory investment and a downturn in imports.

Current-dollar GDP increased 5.2 percent, or $245.5 billion, in the third quarter to a level of $19,495.5 billion. In the second quarter, current-dollar GDP increased 4.1 percent, or $192.3 billion

The price index for gross domestic purchases increased 1.8 percent in the third quarter, compared with an increase of 0.9 percent in the second quarter (table 4). The PCE price index increased 1.5 percent, compared with an increase of 0.3 percent. Excluding food and energy prices, the PCE price index increased 1.3 percent, compared with an increase of 0.9 percent.

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Earlier:

 U.S. DEFICIT - 2017: $666 BLN
2017, October, 23, 11:20:00

U.S. DEFICIT - 2017: $666 BLN

U.S. Treasury Secretary Steven T. Mnuchin and Office of Management and Budget (OMB) Director Mick Mulvaney today released details of the fiscal year (FY) 2017 final budget results. The deficit in FY 2017 was $666 billion, $80 billion more than in the prior fiscal year, but $36 billion less than forecast in the FY 2018 Mid-Session Review (MSR). As a percentage of Gross Domestic Product (GDP), the deficit was 3.5 percent, 0.3 percentage point higher than the previous year.

 

 U.S. FOREIGN ACQUISITIONS UP $125 BLN
2017, October, 20, 12:25:00

U.S. FOREIGN ACQUISITIONS UP $125 BLN

The sum total in August of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a monthly net TIC inflow of $125.0 billion. Of this, net foreign private inflows were $131.5 billion, and net foreign official outflows were $6.5 billion.

 

 U.S. OIL + 81 TBD, GAS + 827 MCFD
2017, October, 18, 18:55:00

U.S. OIL + 81 TBD, GAS + 827 MCFD

EIA - Crude oil production from the major US onshore regions is forecast to increase 81,000 b/d month-over-month in November to 6.12 million b/d.

 

 U.S. OIL PRODUCTION 9.4 MBD
2017, October, 18, 18:50:00

U.S. OIL PRODUCTION 9.4 MBD

EIA forecasts that U.S crude oil production will average 9.4 million barrels per day (b/d) in the second half of 2017, 340,000 b/d more than in the first half of 2017. Production in 2018 is expected to average 9.9 million b/d, surpassing the previous high of 9.6 million b/d set in 1970.

 

 U.S. INDUSTRIAL PRODUCTION UP 0.3%
2017, October, 18, 18:45:00

U.S. INDUSTRIAL PRODUCTION UP 0.3%

FRB - Industrial production rose 0.3 percent in September. The rates of change for July and August were notably revised; the current estimate for July, a decrease of 0.1 percent, was 0.5 percentage point lower than previously reported, while the estimate for August, a decrease of 0.7 percent, was 0.2 percentage point higher than before.

 

 U.S. ECONOMY UP
2017, October, 16, 11:55:00

U.S. ECONOMY UP

Economic activity in the United States has been growing moderately so far this year, and the labor market has continued to strengthen. The terrible hurricanes that hit Texas, Florida, Puerto Rico, and our neighbors in the Caribbean caused tremendous damage and upended many lives, and our hearts go out to those affected. While the effects of the hurricanes on the U.S. economy are quite noticeable in the short term, history suggests that the longer-term effects will be modest and that aggregate economic activity will recover quickly.

 

 U.S. DEFICIT DOWN TO $42.4 BLN
2017, October, 6, 12:35:00

U.S. DEFICIT DOWN TO $42.4 BLN

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $42.4 billion in August, down $1.2 billion from $43.6 billion in July, revised. August exports were $195.3 billion, $0.8 billion more than July exports. August imports were $237.7 billion, $0.4 billion less than July imports.

 

 



Tags: USA, GDP, ECONOMY