Monday, August 30, 2004
Tweet[IWS] BEA: GROSS DOMESTIC PRODUCT: SECOND QUARTER 2004 (PRELIMINARY) [27 August 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
________________________________________________________________________
GROSS DOMESTIC PRODUCT: SECOND QUARTER 2004 (PRELIMINARY) [27 August 2004]
CORPORATE PROFITS: SECOND QUARTER 2004 (PRELIMINARY)
http://www.bea.gov/bea/newsrelarchive/2004/gdp204p.htm
or
http://www.bea.gov/bea/newsrelarchive/2004/gdp204p.pdf
[full-text, 15 pages]
or
http://www.bea.gov/bea/newsrelarchive/2004/gdp204p.xls
[spreadsheet]
and HIGHLIGHTS
http://www.bea.gov/bea/newsrelarchive/2004/gdp204p_fax.pdf
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 2.8 percent in the second quarter of 2004,
according to preliminary estimates released by the Bureau of Economic Analysis. In the first quarter,
real GDP increased 4.5 percent.
The GDP estimates released today are based on more complete source data than were available for
the advance estimates issued last month. In the advance estimates, the increase in real GDP was 3.0
percent (see "Revisions" on page 3).
The major contributors to the increase in real GDP in the second quarter were personal
consumption expenditures (PCE), equipment and software, residential fixed investment, private
inventory investment, and government spending. Imports, which are a subtraction in the calculation of
GDP, increased.
The deceleration in real GDP growth in the second quarter primarily reflected decelerations in
PCE and in private inventory investment and an acceleration in imports that were partly offset by
accelerations in residential fixed investment and in equipment and software and an upturn in
nonresidential structures.
Motor vehicle output subtracted 0.76 percentage point from the second-quarter change in real
GDP after contributing 0.30 percentage point to the first-quarter change.
The price index for gross domestic purchases, which measures prices paid by U.S. residents,
increased 3.5 percent in the second quarter, the same as the advance estimate; this index increased 3.4
percent in the first quarter. Excluding food and energy prices, the price index for gross domestic
purchases increased 2.5 percent in the second quarter, the same increase as in the first.
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
________________________________________________________________________
GROSS DOMESTIC PRODUCT: SECOND QUARTER 2004 (PRELIMINARY) [27 August 2004]
CORPORATE PROFITS: SECOND QUARTER 2004 (PRELIMINARY)
http://www.bea.gov/bea/newsrelarchive/2004/gdp204p.htm
or
http://www.bea.gov/bea/newsrelarchive/2004/gdp204p.pdf
[full-text, 15 pages]
or
http://www.bea.gov/bea/newsrelarchive/2004/gdp204p.xls
[spreadsheet]
and HIGHLIGHTS
http://www.bea.gov/bea/newsrelarchive/2004/gdp204p_fax.pdf
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 2.8 percent in the second quarter of 2004,
according to preliminary estimates released by the Bureau of Economic Analysis. In the first quarter,
real GDP increased 4.5 percent.
The GDP estimates released today are based on more complete source data than were available for
the advance estimates issued last month. In the advance estimates, the increase in real GDP was 3.0
percent (see "Revisions" on page 3).
The major contributors to the increase in real GDP in the second quarter were personal
consumption expenditures (PCE), equipment and software, residential fixed investment, private
inventory investment, and government spending. Imports, which are a subtraction in the calculation of
GDP, increased.
The deceleration in real GDP growth in the second quarter primarily reflected decelerations in
PCE and in private inventory investment and an acceleration in imports that were partly offset by
accelerations in residential fixed investment and in equipment and software and an upturn in
nonresidential structures.
Motor vehicle output subtracted 0.76 percentage point from the second-quarter change in real
GDP after contributing 0.30 percentage point to the first-quarter change.
The price index for gross domestic purchases, which measures prices paid by U.S. residents,
increased 3.5 percent in the second quarter, the same as the advance estimate; this index increased 3.4
percent in the first quarter. Excluding food and energy prices, the price index for gross domestic
purchases increased 2.5 percent in the second quarter, the same increase as in the first.
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 : 9:33 AM
