GDP: US economy grows at 3% annualized pace in second quarter

av AFFK 2024-09-26, 14:41

GDP: US economy grows at 3% annualized pace in second quarter

Gross Domestic Product (Third Estimate), Corporate Profits (Revised Estimate), and GDP by Industry, Second Quarter 2024 and Annual Update

Real gross domestic product (GDP) increased at an annual rate of 3.0 percent in the second quarter of 2024 (table 1), according to the "third" estimate released by the U.S. Bureau of Economic Analysis. In the first quarter, real GDP increased 1.6 percent (revised).
The GDP estimate released today is based on more complete source data than were available for the "second" estimate issued last month. In the second estimate, the increase in real GDP was also 3.0 percent. The update primarily reflected upward revisions to private inventory investment and federal government spending that were offset by downward revisions to nonresidential fixed investment and exports (refer to "Updates to GDP"). Imports, which are a subtraction in the calculation of GDP, were revised up.

GDP: US economy grows at 3% annualized pace in second quarter Skzir175

The increase in real GDP primarily reflected increases in consumer spending, private inventory investment, and nonresidential fixed investment. Imports increased (table 2).
Compared to the first quarter, the acceleration in real GDP in the second quarterly primarily reflected an upturn in private inventory investment and an acceleration in consumer spending. These movements were partly offset by a downturn in residential fixed investment.
Current‑dollar GDP increased 5.6 percent at an annual rate, or $392.6 billion, in the second quarter to a level of $29.02 trillion, a $9.5 billion larger increase than the previous estimate (tables 1 and 3). More information on the source data that underlie the estimates is available in the "Key Source Data and Assumptions" file on BEA’s website.
The price index for gross domestic purchases increased 2.4 percent in the second quarter, the same as the previous estimate (table 4). The personal consumption expenditures (PCE) price index increased 2.5 percent, the same as the previous estimate. Excluding food and energy prices, the PCE price index increased 2.8 percent, also the same as the previous estimate.

Personal Income

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Current-dollar personal income increased $315.7 billion in the second quarter, an upward revision of $82.1 billion from the previous estimate. The increase primarily reflected increases in compensation and personal current transfer receipts (table Cool

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Disposable personal income increased $260.4 billion, or 5.0 percent, in the second quarter, an upward revision of $77.3 billion from the previous estimate. Real disposable personal income increased 2.4 percent, an upward revision of 1.4 percentage points.
Personal saving was $1.13 trillion in the second quarter, an upward revision of $74.3 billion from the previous estimate. The personal saving rate—personal saving as a percentage of disposable personal income—was 5.2 percent in the second quarter, compared with 5.4 percent (revised) in the first quarter.
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Gross Domestic Income and Corporate Profits

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Real gross domestic income (GDI) increased 3.4 percent in the second quarter, an upward revision of 2.1 percentage points from the previous estimate. The average of real GDP and real GDI, a supplemental measure of U.S. economic activity that equally weights GDP and GDI, increased 3.2 percent in the second quarter, an upward revision of 1.1 percentage points from the previous estimate (table 1).
Profits from current production (corporate profits with inventory valuation and capital consumption adjustments) increased $132.5 billion in the second quarter, an upward revision of $74.9 billion from the previous estimate (table 10).
Profits of domestic financial corporations increased $42.5 billion in the second quarter, a downward revision of $4.0 billion from the previous estimate. Profits of domestic nonfinancial corporations increased $108.8 billion, an upward revision of $79.6 billion. Rest-of-the-world profits decreased $18.8 billion, a downward revision of $0.7 billion. In the second quarter, receipts increased $4.4 billion, and payments increased $23.1 billion.
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Updates to GDP

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With the third estimate, upward revisions to private inventory investment and federal government spending were offset by downward revisions to nonresidential fixed investment, exports, consumer spending, and residential fixed investment. Imports were revised up. For more information, refer to the Technical Note. For information on updates to GDP, refer to the "Additional Information" section that follows.[/size]

av AFFK 2024-09-26, 15:16

Där till:

Nya arbetssökanden i USA sjönk till 218 000 under förra veckan, väntat 223 000 (uppdatering) (Finwire)

2024-09-26 14:32

(tillägg revidering)

Antalet nya arbetssökanden i USA uppgick till 218 000 under den senaste rapportveckan. Marknaden räknade, enligt Bloomberg, med 223 000 sökanden.

Föregående veckas utfall reviderades till 222 000 från preliminärt 219 000.

USA	v38	Konsensus	v37	Reviderad
Nya sökande a-kassa senaste veckan	218 000	223 000	219 000	222 000

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Konsensusdata från Bloomberg

Irma Santic
Nyhetsbyrån Finwire[/size]

GDP: US economy grows at 3% annualized pace in second quarter