Friday, April 27, 2007
Tweet[IWS] BEA: GROSS DOMESTIC PRODUCT: FIRST QUARTER 2007 (ADVANCE)[27 April 2007]
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: FIRST QUARTER 2007 (ADVANCE)[27 April 2007]
http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm
or
http://www.bea.gov/newsreleases/national/gdp/2007/pdf/gdp107a.pdf
[full-text, 13 pages]
or
http://www.bea.gov/newsreleases/national/gdp/2007/xls/gdp107a.xls
[spreadsheet]
and
Highlights
http://www.bea.gov/newsreleases/national/gdp/2007/pdf/gdp107a_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 1.3 percent in the first quarter of 2007,
according to advance estimates released by the Bureau of Economic Analysis. In the fourth quarter, real
GDP increased 2.5 percent.
The Bureau emphasized that the first-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 first-
quarter "preliminary" estimates, based on more comprehensive data, will be released on May 31, 2007.
The increase in real GDP in the first quarter primarily reflected positive contributions from
personal consumption expenditures (PCE) and state and local government spending that were partly
offset by negative contributions from residential fixed investment, private inventory investment, and
federal government spending. Imports, which are a subtraction in the calculation of GDP, increased.
The deceleration in real GDP growth in the first quarter primarily reflected a downturn in exports,
an upturn in imports, a deceleration in PCE for nondurable goods, and a downturn in federal government
spending that were partly offset by a smaller decrease in private inventory investment, an upturn in
equipment and software, a smaller decrease in residential fixed investment, and an acceleration in PCE
for durable goods.
Final sales of computers contributed 0.04 percentage point to the first-quarter growth in real GDP
after contributing 0.22 percentage point to the fourth-quarter growth. Motor vehicle output contributed
0.09 percentage point to the first-quarter growth in real GDP after subtracting 1.18 percentage points
from the fourth-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: FIRST QUARTER 2007 (ADVANCE)[27 April 2007]
http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm
or
http://www.bea.gov/newsreleases/national/gdp/2007/pdf/gdp107a.pdf
[full-text, 13 pages]
or
http://www.bea.gov/newsreleases/national/gdp/2007/xls/gdp107a.xls
[spreadsheet]
and
Highlights
http://www.bea.gov/newsreleases/national/gdp/2007/pdf/gdp107a_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 1.3 percent in the first quarter of 2007,
according to advance estimates released by the Bureau of Economic Analysis. In the fourth quarter, real
GDP increased 2.5 percent.
The Bureau emphasized that the first-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 first-
quarter "preliminary" estimates, based on more comprehensive data, will be released on May 31, 2007.
The increase in real GDP in the first quarter primarily reflected positive contributions from
personal consumption expenditures (PCE) and state and local government spending that were partly
offset by negative contributions from residential fixed investment, private inventory investment, and
federal government spending. Imports, which are a subtraction in the calculation of GDP, increased.
The deceleration in real GDP growth in the first quarter primarily reflected a downturn in exports,
an upturn in imports, a deceleration in PCE for nondurable goods, and a downturn in federal government
spending that were partly offset by a smaller decrease in private inventory investment, an upturn in
equipment and software, a smaller decrease in residential fixed investment, and an acceleration in PCE
for durable goods.
Final sales of computers contributed 0.04 percentage point to the first-quarter growth in real GDP
after contributing 0.22 percentage point to the fourth-quarter growth. Motor vehicle output contributed
0.09 percentage point to the first-quarter growth in real GDP after subtracting 1.18 percentage points
from the fourth-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 : 9:05 AM
