U.S. GDP UP 4.1%

U.S. BEA - Real gross domestic product increased at an annual rate of 4.1 percent in the second quarter of 2018 , according to the "advance" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 2.2 percent.

The Bureau emphasized that the second-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 second quarter, based on more complete data, will be released on August 29, 2018. 

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

The acceleration in real GDP growth in the second quarter reflected accelerations in PCE and in exports, a smaller decrease in residential fixed investment, and accelerations in federal government spending and in state and local spending. These movements were partly offset by a downturn in private inventory investment and a deceleration in nonresidential fixed investment. Imports decelerated.

Current-dollar GDP increased 7.4 percent, or $361.5 billion, in the second quarter to a level of $20.4 trillion. In the first quarter, current-dollar GDP increased 4.3 percent, or $209.2 billion.

The price index for gross domestic purchases increased 2.3 percent in the second quarter, compared with an increase of 2.5 percent in the first quarter (table 4). The PCE price index increased 1.8 percent, compared with an increase of 2.5 percent. Excluding food and energy prices, the PCE price index increased 2.0 percent, compared with an increase of 2.2 percent.

Personal Income

Current-dollar personal income increased $183.7 billion in the second quarter, compared with an increase of $215.8 billion in the first quarter. Decelerations in wages and salaries, government social benefits, personal interest income, and nonfarm proprietors' income were partly offset by accelerations in personal dividend income and rental income, a deceleration in contributions for government social insurance (a subtraction in the calculation of personal income), and an upturn in farm proprietors' income.

Disposable personal income increased $167.5 billion, or 4.5 percent, in the second quarter, compared with an increase of $256.7 billion, or 7.0 percent, in the first quarter. Real disposable personal income increased 2.6 percent, compared with an increase of 4.4 percent.

Personal saving was $1,051.1 billion in the second quarter, compared with $1094.1 billion in the first quarter. The personal saving rate -- personal saving as a percentage of disposable personal income -- was 6.8 percent in the second quarter, compared with 7.2 percent in the first quarter.

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Earlier:

2018, July, 23, 13:20:00 U.S. INDUSTRIAL PRODUCTION UP 0.6% U.S. FRB - Industrial production rose 0.6 percent in June after declining 0.5 percent in May. For the second quarter as a whole, industrial production advanced at an annual rate of 6.0 percent, its third consecutive quarterly increase. Manufacturing output moved up 0.8 percent in June.

2018, July, 23, 13:15:00 U.S. INVESTMENT $69.9 BLN U.S. DT - The sum total in May of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a net TIC inflow of $69.9 billion. Of this, net foreign private inflows were $58.8 billion, and net foreign official inflows were $11.1 billion.

2018, July, 12, 10:30:00 U.S. FOREIGN DIRECT INVESTMENT: $259.6 BLN U.S. BEA - Expenditures by foreign direct investors to acquire, establish, or expand U.S. businesses totaled $259.6 billion (preliminary) in 2017. Expenditures were down 32 percent from $379.7 billion (revised) in 2016 and were below the annual average of $359.9 billion for 2014-2016. As in previous years, acquisitions of existing businesses accounted for a large majority of total expenditures.

2018, July, 9, 15:10:00 U.S. DEFICIT DOWN $3 BLN TO $43.1 BLN U.S. BEA - The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $43.1 billion in May, down $3.0 billion from $46.1 billion in April,

2018, July, 9, 14:55:00 U.S. UNEMPLOYMENT UP TO 4% U.S. BLS - Total nonfarm payroll employment increased by 213,000 in June, and the unemployment rate rose to 4.0 percent,

2018, July, 4, 12:10:00 U.S. ECONOMY UP AGAIN IMF - The near-term outlook for the U.S. economy is one of strong growth and job creation. Unemployment is near levels not seen in 50 years, and growth is set to accelerate, aided by a fiscal stimulus, a recovery of private investment, and supportive financial conditions. These positive outturns have supported, and been reinforced by, a favorable external environment. The balance of evidence suggests that the U.S. economy is beyond full employment.

2018, June, 29, 10:05:00 U.S. GDP UP OF 2% U.S. BEA - Real gross domestic product (GDP) increased at an annual rate of 2.0 percent in the first quarter of 2018 , according to the "third" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.9 percent.