Friday, July 30, 2004
Tweet[IWS] BEA: GROSS DOMESTIC PRODUCT (GDP) [30 July 2004]
IWS Documented News Service
_______________________________
Institute for Workplace Studies Professor Samuel B. Bacharach
School of Industrial & Labor Relations Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor Stuart Basefsky
New York, NY 10016 Director, IWS News Bureau
________________________________________________________________________
NATIONAL INCOME AND PRODUCT ACCOUNTS [30 July 2004]
. SECOND QUARTER 2004 GDP (ADVANCE)
. REVISED ESTIMATES: 2001 THROUGH FIRST QUARTER 2004
http://www.bea.gov/bea/newsrelarchive/2004/gdp204a.htm
or
http://www.bea.gov/bea/newsrelarchive/2004/gdp204a.pdf
[full-text, 34 pages]
or Highlights at-
http://www.bea.gov/bea/newsrelarchive/2004/gdp204a_fax.pdf
[1 page]
Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 3.0 percent in the second quarter of 2004, according to advance estimates released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 4.5 percent (revised).
The Bureau emphasized that the second-quarter "advance" estimates are based on source data that are incomplete or subject to further revision by the source agency (see the box on page 3). The second-quarter "preliminary" estimates, based on more comprehensive data, will be released on August 27, 2004.
BOX
The estimates released today reflect revisions in the national income and product accounts (NIPAs) beginning with the first quarter of 2001. Revisions are usually made each July to incorporate source data that are more complete, more detailed, and otherwise more consistent than previously available. This release includes the revised quarterly estimates of GDP, corporate profits, and personal income and provides an overview of the effects of the revision.
The August 2004 Survey of Current Business will contain NIPA tables and an article describing the revisions. The revised estimates will be available from BEA's Web site (see page 7).
FOOTNOTE.--Quarterly estimates are expressed at seasonally adjusted annual rates, unless otherwise specified. Quarter-to-quarter dollar changes are differences between these published estimates. Percent changes are calculated from unrounded data and annualized. "Real" estimates are in chained (2000) dollars. Price indexes are chain-type measures.
AND MUCH MORE...including TABLES...
_____________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky *
Director, IWS News Bureau *
Institute for Workplace Studies *
Cornell/ILR School *
16 E. 34th Street, 4th Floor *
New York, NY 10016 *
*
Telephone: (607) 255-2703 *
Fax: (607) 255-9641 *
E-mail: smb6@cornell.edu *
****************************************
_______________________________
Institute for Workplace Studies
School of Industrial & Labor Relations
Cornell University
16 East 34th Street, 4th floor
New York, NY 10016
________________________________________________________________________
NATIONAL INCOME AND PRODUCT ACCOUNTS [30 July 2004]
. SECOND QUARTER 2004 GDP (ADVANCE)
. REVISED ESTIMATES: 2001 THROUGH FIRST QUARTER 2004
http://www.bea.gov/bea/newsrelarchive/2004/gdp204a.htm
or
http://www.bea.gov/bea/newsrelarchive/2004/gdp204a.pdf
[full-text, 34 pages]
or Highlights at-
http://www.bea.gov/bea/newsrelarchive/2004/gdp204a_fax.pdf
[1 page]
Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 3.0 percent in the second quarter of 2004, according to advance estimates released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 4.5 percent (revised).
The Bureau emphasized that the second-quarter "advance" estimates are based on source data that are incomplete or subject to further revision by the source agency (see the box on page 3). The second-quarter "preliminary" estimates, based on more comprehensive data, will be released on August 27, 2004.
BOX
The estimates released today reflect revisions in the national income and product accounts (NIPAs) beginning with the first quarter of 2001. Revisions are usually made each July to incorporate source data that are more complete, more detailed, and otherwise more consistent than previously available. This release includes the revised quarterly estimates of GDP, corporate profits, and personal income and provides an overview of the effects of the revision.
The August 2004 Survey of Current Business will contain NIPA tables and an article describing the revisions. The revised estimates will be available from BEA's Web site (see page 7).
FOOTNOTE.--Quarterly estimates are expressed at seasonally adjusted annual rates, unless otherwise specified. Quarter-to-quarter dollar changes are differences between these published estimates. Percent changes are calculated from unrounded data and annualized. "Real" estimates are in chained (2000) dollars. Price indexes are chain-type measures.
AND MUCH MORE...including TABLES...
_____________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 9:14 AM
