Thursday, August 31, 2006
Tweet[IWS] GDP & CORPORATE PROFITS: 2nd Qtr. 2006 (Prel.) [30 August 2006]
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 2006 (PRELIMINARY) [30 August 2006]
CORPORATE PROFITS: SECOND QUARTER 2006 (PRELIMINARY) [30 August 2006]
http://www.bea.gov/bea/newsrelarchive/2006/gdp206p.htm
or
http://www.bea.gov/bea/newsrelarchive/2006/gdp206p.pdf
[full-text, 16 pages]
or
http://www.bea.gov/bea/newsrelarchive/2006/gdp206p.xls
[spreadsheet]
and
Highlights
http://www.bea.gov/bea/newsrelarchive/2006/gdp206p_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 2.9 percent in the second quarter of 2006,
according to preliminary estimates released by the Bureau of Economic Analysis. In the first quarter,
real GDP increased 5.6 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 2.5
percent (see "Revisions" on page 3).
The increase in real GDP in the second quarter primarily reflected positive contributions from
personal consumption expenditures (PCE) for services, private inventory investment, nonresidential
structures, exports, and state and local government spending that were partly offset by negative
contributions from residential fixed investment and federal 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 a deceleration in
PCE for durable goods, downturns in equipment and software and in federal government spending,
decelerations in exports and in PCE for nondurable goods, and a larger decrease in residential fixed
investment that were partly offset by a deceleration in imports, an acceleration in PCE for services, and
an upturn in private inventory investment.
Final sales of computers contributed 0.05 percentage point to the second-quarter growth in real
GDP after contributing 0.07 percentage point to the first-quarter growth. Motor vehicle output
subtracted 0.28 percentage point from the second-quarter growth in real GDP after contributing 0.12
percentage point to the first-quarter growth.
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----------------- 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 2006 (PRELIMINARY) [30 August 2006]
CORPORATE PROFITS: SECOND QUARTER 2006 (PRELIMINARY) [30 August 2006]
http://www.bea.gov/bea/newsrelarchive/2006/gdp206p.htm
or
http://www.bea.gov/bea/newsrelarchive/2006/gdp206p.pdf
[full-text, 16 pages]
or
http://www.bea.gov/bea/newsrelarchive/2006/gdp206p.xls
[spreadsheet]
and
Highlights
http://www.bea.gov/bea/newsrelarchive/2006/gdp206p_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 2.9 percent in the second quarter of 2006,
according to preliminary estimates released by the Bureau of Economic Analysis. In the first quarter,
real GDP increased 5.6 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 2.5
percent (see "Revisions" on page 3).
The increase in real GDP in the second quarter primarily reflected positive contributions from
personal consumption expenditures (PCE) for services, private inventory investment, nonresidential
structures, exports, and state and local government spending that were partly offset by negative
contributions from residential fixed investment and federal 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 a deceleration in
PCE for durable goods, downturns in equipment and software and in federal government spending,
decelerations in exports and in PCE for nondurable goods, and a larger decrease in residential fixed
investment that were partly offset by a deceleration in imports, an acceleration in PCE for services, and
an upturn in private inventory investment.
Final sales of computers contributed 0.05 percentage point to the second-quarter growth in real
GDP after contributing 0.07 percentage point to the first-quarter growth. Motor vehicle output
subtracted 0.28 percentage point from the second-quarter growth in real GDP after contributing 0.12
percentage point to the first-quarter growth.
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 : 9:56 AM
