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Tag Archives: gdp

Trade and Increased Commercial Investment Saved Q1 2017 GDP from Contraction

April 28, 2017 - BEA Estimates 1st Quarter 2017 GDP Growth At 0.69%: by Rick Davis, Consumer Metrics Institute In their first (preliminary) estimate of the US GDP for the first quarter of 2017, the Bureau of Economic Analysis (BEA) reported that the US economy was growing at a +0.69% annual rate, down roughly two thirds (-1.39%) from the +2.08% reported for the prior quarter. Follow up: Please share this article - Go to very top of page, right hand side for social media buttons. Total...

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Economic Growth in the US: A Tale of Two Countries

from Voxeu.org -- this post authored by Thomas Piketty, Emmanuel Saez, and Gabriel Zucman Appeared originally at Voxeu.org 29 March 2017 The rise of economic inequality is one of today’s most hotly debated issues. But a disconnect between the different data sets used to measure and understand inequality makes it hard to address important economic and policy questions. In this column, the authors highlight the findings from their attempt to create inequality statistics for the US that...

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The Consumer Saves 4Q 2016 GDP

Written by Rick Davis, Consumer Metrics Institute  March 30, 2017 - BEA Revision Revises 4th Quarter 2016 GDP Growth Upward To 2.08% In their third and final estimate of the US GDP for the fourth quarter of 2016, the Bureau of Economic Analysis (BEA) reported that the US economy was growing at a +2.08% annual rate, up slightly from the +1.85% previously reported but down by -1.45% from the prior quarter. Follow up: Please share this article - Go to very top of page, right hand side for...

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Consumer Spending Increase Saves 4Q 2016 GDP Estimate from a Decline

by Rick Davis, Consumer Metrics Institute February 28, 2017 - BEA Revision Revises 4th Quarter 2016 GDP Growth To 1.85%: In their second estimate of the US GDP for the fourth quarter of 2016, the Bureau of Economic Analysis (BEA) reported that the US economic growth rate was +1.85%, essentially unchanged from the +1.87% previously reported but down by nearly half (-1.68%) from the prior quarter. Follow up: Although there was no material change in the headline number, the composition...

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Gross Attention to the Gross Domestic Product

Written by Dan Lieberman, Alternativeinsight  Prepared by the Bureau of Economic Analysis of the Department of Commerce, the Gross Domestic Product (GDP) serves primarily as an accounting function for the United States government  ̶  one statement in a description of national accounts. By summarizing the monetary value and sources of services and production, the GDP reports all expenditures in the U.S.economy. Anxiously awaited, the economic statistic is employed to indicate and forecast...

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Inventories and Low Deflator Boost Low GDP Estimate

BEA Estimates 4th Quarter 2016 GDP at 1.87% by Rick Davis, Consumer Metrics Institute In their first (preliminary) estimate of the US GDP for the fourth quarter of 2016, the Bureau of Economic Analysis (BEA) reported that the US economic growth rate was +1.87%, down by nearly half (-1.66%) from the prior quarter. Follow up: The quarter to quarter decline in the headline growth rate came from a number of sources: the growth of consumer spending on services was more than halved (down...

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Third Quarter 2016 GDP Growth is Impressive

by Rick Davis, Consumer Metrics Institute In their third and final estimate of the US GDP for the third quarter of 2016, the Bureau of Economic Analysis (BEA) reported that the growth rate was +3.53%, up +0.38% from their previous estimate and up +2.11% from the prior quarter. Follow up: The improvement in the headline number was broadly based: +0.14% came from higher consumer spending, +0.17% was from more fixed investment spending, and +0.09 of it came from additional governmental...

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Adjustments to 3Q 2016 GDP Include Increased Consumer Spending

by Rick Davis, Consumer Metrics Institute BEA Estimates 3rd Quarter 2016 GDP Growth to be 3.15%: In their second estimate of the US GDP for the third quarter of 2016, the Bureau of Economic Analysis (BEA) reported that the growth rate was +3.15%, up +0.24% from their previous estimate and up +1.73% from the prior quarter. Follow up: Most of the improvement in the headline number came from a +0.42% upward revision to consumer spending. Spending on consumer goods was revised upward by...

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Riddle Me This: Why Has Employment Gained and Sales Declined?

Written by Steven Hansen Using technical jargon, the employment numbers and business sales are seriously out of whack. Sales are in contraction and employment is in expansion - an event usually associated with recessions. Follow up: There are issues with defining the problem. For one thing, employment data includes a certain amount of double counting (the same person holding two or more jobs and being counted as two or more people). A second problem, I have serious reservations about the...

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Inventories, Exports and Government Spending Boost GDP

by Rick Davis, Consumer Metrics Institute October 28, 2016 - BEA Estimates 3rd Quarter 2016 GDP Growth to be 2.91% In their first ("preliminary") estimate of the US GDP for the third quarter of 2016, the Bureau of Economic Analysis (BEA) reported that the growth rate was +2.91%, up +1.49% from the prior quarter.   Most of the reported improvement in the headline number came from a +1.77% quarter-to-quarter gain in inventories, a +0.96% rise in exports, and a +0.39% uptick in governmental...

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