Wednesday, October 31, 2007
Tweet[IWS] BEA: GROSS DOMESTIC PRODUCT: THIRD QUARTER 2007 (ADVANCE) [31 October 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: THIRD QUARTER 2007 (ADVANCE) [31 October 2007]
http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm
or
http://www.bea.gov/newsreleases/national/gdp/2007/pdf/gdp307a.pdf
[full-text, 13 pages]
or
http://www.bea.gov/newsreleases/national/gdp/2007/xls/gdp307a.xls
[spreadsheet]
and
Highlights
http://www.bea.gov/newsreleases/national/gdp/2007/pdf/gdp307a_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 3.9 percent in the third quarter of 2007,
according to advance estimates released by the Bureau of Economic Analysis. In the second quarter,
real GDP increased 3.8 percent.
The Bureau emphasized that the third-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 third-
quarter "preliminary" estimates, based on more comprehensive data, will be released on November 29,
2007.
The increase in real GDP in the third quarter reflected positive contributions from personal
consumption expenditures (PCE), exports, federal government spending, equipment and software,
nonresidential structures, private inventory investment, and state and local government spending that
were partly offset by a negative contribution from residential fixed investment. Imports, which are a
subtraction in the calculation of GDP, increased.
The slight acceleration in real GDP growth in the third quarter primarily reflected accelerations in
PCE and in exports that were partly offset by an upturn in imports, a larger decrease in residential fixed
investment, and a deceleration in nonresidential structures.
Final sales of computers contributed 0.29 percentage point to the third-quarter growth in real GDP
after contributing 0.21 percentage point to the second-quarter growth. Motor vehicle output contributed
0.33 percentage point to the third-quarter growth in real GDP after contributing 0.03 percentage point to
the second-quarter growth.
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 are annualized. "Real" estimates are in chained (2000)
dollars. Price indexes are chain-type measures.
This news release is available on BEA's Web site at www.bea.gov/newsreleases/rels.htm.
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: THIRD QUARTER 2007 (ADVANCE) [31 October 2007]
http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm
or
http://www.bea.gov/newsreleases/national/gdp/2007/pdf/gdp307a.pdf
[full-text, 13 pages]
or
http://www.bea.gov/newsreleases/national/gdp/2007/xls/gdp307a.xls
[spreadsheet]
and
Highlights
http://www.bea.gov/newsreleases/national/gdp/2007/pdf/gdp307a_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 3.9 percent in the third quarter of 2007,
according to advance estimates released by the Bureau of Economic Analysis. In the second quarter,
real GDP increased 3.8 percent.
The Bureau emphasized that the third-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 third-
quarter "preliminary" estimates, based on more comprehensive data, will be released on November 29,
2007.
The increase in real GDP in the third quarter reflected positive contributions from personal
consumption expenditures (PCE), exports, federal government spending, equipment and software,
nonresidential structures, private inventory investment, and state and local government spending that
were partly offset by a negative contribution from residential fixed investment. Imports, which are a
subtraction in the calculation of GDP, increased.
The slight acceleration in real GDP growth in the third quarter primarily reflected accelerations in
PCE and in exports that were partly offset by an upturn in imports, a larger decrease in residential fixed
investment, and a deceleration in nonresidential structures.
Final sales of computers contributed 0.29 percentage point to the third-quarter growth in real GDP
after contributing 0.21 percentage point to the second-quarter growth. Motor vehicle output contributed
0.33 percentage point to the third-quarter growth in real GDP after contributing 0.03 percentage point to
the second-quarter growth.
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 are annualized. "Real" estimates are in chained (2000)
dollars. Price indexes are chain-type measures.
This news release is available on BEA's Web site at www.bea.gov/newsreleases/rels.htm.
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 : 8:44 AM
