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2018-11-30 11:30:00

U.S. GDP UP OF 3.5%

U.S. GDP UP OF 3.5%

U.S. BEA - Real gross domestic product (GDP) increased at an annual rate of 3.5 percent in the third quarter of 2018, according to the "second" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 4.2 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 3.5 percent. With this second estimate for the third quarter, the general picture of economic growth remains the same; upward revisions to nonresidential fixed investment and private inventory investment were offset by downward revisions to personal consumption expenditures (PCE) and state and local government spending.

Real gross domestic income (GDI) increased 4.0 percent in the third quarter, compared with an increase of 0.9 percent (revised) in the second quarter. The average of real GDP and real GDI, a supplemental measure of U.S. economic activity that equally weights GDP and GDI, increased 3.8 percent in the third quarter, compared with an increase of 2.5 percent (revised) in the second quarter.

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

The deceleration in real GDP growth in the third quarter primarily reflected a downturn in exports and decelerations in nonresidential fixed investment and in PCE. Imports increased in the third quarter after decreasing in the second. These movements were partly offset by an upturn in private inventory investment.

Current dollar GDP increased 5.0 percent, or $248.4 billion, in the third quarter to a level of $20.66 trillion. In the second quarter, current-dollar GDP increased 7.6 percent, or $370.9 billion.

The price index for gross domestic purchases increased 1.7 percent in the third quarter, compared with an increase of 2.4 percent in the second quarter. The PCE price index increased 1.5 percent, compared with an increase of 2.0 percent. Excluding food and energy prices, the PCE price index increased 1.5 percent, compared with an increase of 2.1 percent.

 

  Advance Estimate Second Estimate
(Percent change from preceding quarter)
Real GDP 3.5 3.5
Current-dollar GDP 4.9 5.0
Real GDI 4.0
Average of Real GDP and Real GDI 3.8
Gross domestic purchases price index 1.7 1.7
PCE price index 1.6 1.5

 

Corporate Profits

Profits from current production (corporate profits with inventory valuation and capital consumption adjustments) increased $76.0 billion in the third quarter, compared with an increase of $65.0 billion in the second quarter.

Profits of domestic financial corporations decreased $7.8 billion in the third quarter, in contrast to an increase of $16.5 billion in the second quarter. Profits of domestic nonfinancial corporations increased $66.2 billion, compared with an increase of $53.0 billion. Rest-of-the-world profits increased $17.6 billion, in contrast to a decrease of $4.5 billion. In the third quarter, receipts decreased $7.7 billion, and payments decreased $25.3 billion.

 

More information is here.

 

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Earlier:

N.America
2018, November, 28, 12:55:00

U.S. ENERGY PRESSURE

FT - in the third quarter of this year the US E&P sector was able to cover its capital spending from its operating cash flows, if only barely. The plunge in oil prices over the past two months is bringing those concerns gushing to the surface again.

 

N.America
2018, November, 28, 12:40:00

U.S. SUBSTANTIAL DAMAGES

PLATTS - Overall, the report found that without more significant global mitigation, "climate change is projected to impose substantial damages on the US economy, human health and the environment."

 

N.America
2018, November, 19, 11:30:00

U.S. PETROLEUM DEMAND 20.8 MBD

U.S. API - U.S. petroleum demand in October of 20.8 million barrels per day (mb/d) was the strongest for the month since 2006 and a continued reflection of solid economic activity.

 

N.America
2018, November, 19, 11:20:00

U.S. SECURITIES OUTFLOW $29.1 BLN

U.S. DT - The sum total in September of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a net TIC outflow of $29.1 billion. Of this, net foreign private inflows were $23.5 billion, and net foreign official outflows were $52.7 billion.

 

N.America
2018, November, 19, 11:15:00

U.S. INDUSTRIAL PRODUCTION UP 0.1%

U.S. FRB - Industrial production edged up 0.1 percent in October, as a gain for manufacturing outweighed decreases elsewhere. As a result of upward revisions primarily in mining, the overall index is now reported to have advanced at an annual rate of 4.7 percent in the third quarter, appreciably above the gain of 3.3 percent reported initially.

 Finance
2018, November, 16, 09:20:00

U.S. FINANCIAL RISKS

U.S. OFR - The U.S. Office of Financial Research (OFR) released its 2018 Annual Report to Congress, stating that risks to U.S. financial stability remain in the medium range, reflecting a mix of high, moderate, and low risks to the financial system.

 

 Finance
2018, November, 9, 14:45:00

U.S. FEDERAL FUNDS RATE 2.25%

U.S. FRB - In view of realized and expected labor market conditions and inflation, the Committee decided to maintain the target range for the federal funds rate at 2 to 2-1/4 percent. 

 

 

Tags: USA, ECONOMY, GDP