Wednesday, April 30, 2008
Tweet[IWS] BEA: GROSS DOMESTIC PRODUCT: FIRST QUARTER 2008 (ADVANCE) [30 April 2008]
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 2008 (ADVANCE) [30 April 2008]
http://www.bea.gov/newsreleases/national/gdp/2008/gdp108a.htm
or
http://www.bea.gov/newsreleases/national/gdp/2008/pdf/gdp108a.pdf
[full-text, 13 pages]
or
http://www.bea.gov/newsreleases/national/gdp/2008/xls/gdp108a.xls
[spreadsheet]
and
Highlights
http://www.bea.gov/newsreleases/national/gdp/2008/pdf/gdp108a_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 0.6 percent in the first quarter of 2008,
according to advance estimates released by the Bureau of Economic Analysis. In the fourth quarter, real
GDP also increased 0.6 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 29, 2008.
The increase in real GDP in the first quarter primarily reflected positive contributions from
personal consumption expenditures (PCE) for services, private inventory investment, exports of goods
and services, and federal government spending that were partly offset by negative contributions from
residential fixed investment and PCE for durable goods. Imports, which are a subtraction in the
calculation of GDP, increased.
The increase in real GDP is the same as in the fourth quarter, reflecting an upturn in inventory
investment that was offset by an upturn in imports, and downturns in nonresidential structures, in PCE
for durable goods, and in PCE for nondurable goods.
Final sales of computers contributed 0.12 percentage point to the first-quarter growth in real GDP
after contributing 0.16 percentage point to the fourth-quarter growth. Motor vehicle output subtracted
0.30 percentage point from the first-quarter growth in real GDP after subtracting 0.86 percentage point
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 2008 (ADVANCE) [30 April 2008]
http://www.bea.gov/newsreleases/national/gdp/2008/gdp108a.htm
or
http://www.bea.gov/newsreleases/national/gdp/2008/pdf/gdp108a.pdf
[full-text, 13 pages]
or
http://www.bea.gov/newsreleases/national/gdp/2008/xls/gdp108a.xls
[spreadsheet]
and
Highlights
http://www.bea.gov/newsreleases/national/gdp/2008/pdf/gdp108a_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 0.6 percent in the first quarter of 2008,
according to advance estimates released by the Bureau of Economic Analysis. In the fourth quarter, real
GDP also increased 0.6 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 29, 2008.
The increase in real GDP in the first quarter primarily reflected positive contributions from
personal consumption expenditures (PCE) for services, private inventory investment, exports of goods
and services, and federal government spending that were partly offset by negative contributions from
residential fixed investment and PCE for durable goods. Imports, which are a subtraction in the
calculation of GDP, increased.
The increase in real GDP is the same as in the fourth quarter, reflecting an upturn in inventory
investment that was offset by an upturn in imports, and downturns in nonresidential structures, in PCE
for durable goods, and in PCE for nondurable goods.
Final sales of computers contributed 0.12 percentage point to the first-quarter growth in real GDP
after contributing 0.16 percentage point to the fourth-quarter growth. Motor vehicle output subtracted
0.30 percentage point from the first-quarter growth in real GDP after subtracting 0.86 percentage point
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 : 8:35 AM
