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2018-04-30 10:10:00

U.S. GDP UP 2.3%

U.S. GDP UP 2.3%

BEA - Real gross domestic product (GDP) increased at an annual rate of 2.3 percent in the first quarter of 2018 , according to the "advance" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.9 percent.

The Bureau emphasized that the first-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 first quarter, based on more complete data, will be released on May 30, 2018.

The increase in real GDP in the first quarter reflected positive contributions from nonresidential fixed investment, personal consumption expenditures (PCE), exports, private inventory investment, federal government spending, and state and local government spending. Imports, which are a subtraction in the calculation of GDP, increased.

The deceleration in real GDP growth in the first quarter reflected decelerations in PCE, residential fixed investment, exports, and state and local government spending. These movements were partly offset by an upturn in private inventory investment. Imports, which are a subtraction in the calculation of GDP, decelerated.

Current-dollar GDP increased 4.3 percent, or $211.2 billion, in the first quarter to a level of $19.97 trillion. In the fourth quarter, current-dollar GDP increased 5.3 percent, or $253.5 billion .

The price index for gross domestic purchases increased 2.8 percent in the first quarter, compared with an increase of 2.5 percent in the fourth quarter. The PCE price index increased 2.7 percent, the same increase as in the fourth quarter. Excluding food and energy prices, the PCE price index increased 2.5 percent, compared with an increase of 1.9 percent .

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Earlier:

N.America
2018, April, 23, 14:40:00

U.S. OIL DEMAND UP TO 20.6 MBD

API - the American Petroleum Institute reported that U.S. petroleum demand reached 20.6 million barrels per day (MBD) last month, the highest level since 2007. To satisfy demand, domestic refineries utilized 91.5 percent of their capacity – a record for the month of March – and processed 17 MBD of oil and natural gas liquids (NGLs). The U.S. also produced a record 10.4 MBD of crude oil plus another 3.9 MBD of NGLs.

 
 N.America
2018, April, 18, 13:04:00

U.S. INDUSTRIAL PRODUCTION UP 0.5%

FRB - Industrial production rose 0.5 percent in March after increasing 1.0 percent in February; the index advanced 4.5 percent at an annual rate for the first quarter as a whole. After having climbed 1.5 percent in February, manufacturing production edged up 0.1 percent in March. Mining output rose 1.0 percent, mostly as a result of gains in oil and gas extraction and in support activities for mining. The index for utilities jumped 3.0 percent after being suppressed in February by warmer-than-normal temperatures. At 107.2 percent of its 2012 average, total industrial production was 4.3 percent higher in March than it was a year earlier. Capacity utilization for the industrial sector moved up 0.3 percentage point in March to 78.0 percent, a rate that is 1.8 percentage points below its long-run (1972–2017) average.

 N.America
2018, April, 6, 18:10:00

U.S. DEFICIT UP $0.9 BLN TO $57.6 BLN

BEA - The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced that the goods and services deficit was $57.6 billion in February, up $0.9 billion from $56.7 billion in January.

 N.America
2018, March, 30, 11:17:00

U.S. GDP UP 2.9%

BEA - Real gross domestic product (GDP) increased at an annual rate of 2.9 percent in the fourth quarter of 2017. In the third quarter, real GDP increased 3.2 percent.

 N.America
2018, March, 23, 08:20:00

U.S. DEFICIT UP TO $128.2 BLN

BEA - The U.S. current-account deficit increased to $128.2 billion (preliminary) in the fourth quarter of 2017 from $101.5 billion (revised) in the third quarter, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit was 2.6 percent of current- dollar gross domestic product (GDP) in the fourth quarter, up from 2.1 percent in the third quarter.

 N.America
2018, March, 23, 08:15:00

U.S. FEDERAL FUNDS RATE 1.5 - 1.75%

FRB - In view of realized and expected labor market conditions and inflation, the Committee decided to raise the target range for the federal funds rate to 1-1/2 to 1-3/4 percent. The stance of monetary policy remains accommodative, thereby supporting strong labor market conditions and a sustained return to 2 percent inflation.

 N.America
2018, March, 18, 11:10:00

U.S. INDUSTRIAL PRODUCTION UP 1.1%

FRB - Industrial production rose 1.1 percent in February following a decline of 0.3 percent in January. Manufacturing production increased 1.2 percent in February, its largest gain since October. Mining output jumped 4.3 percent, mostly reflecting strong gains in oil and gas extraction.

 

 

Tags: USA, ECONOMY, GDP