Wednesday, September 30, 2009
Tweet[IWS] BEA: GDP & CORPORATE PROFITS: 2nd Qtr. (new estimates) [30 September 2009]
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 2009 (THIRD ESTIMATE) [30 September 2009]
CORPORATE PROFITS: SECOND QUARTER 2009 (REVISED ESTIMATE)
http://www.bea.gov/newsreleases/national/gdp/2009/gdp2q09_3rd.htm
or
http://www.bea.gov/newsreleases/national/gdp/2009/pdf/gdp2q09_3rd.pdf
[full-text, 15 pages]
or
http://www.bea.gov/newsreleases/national/gdp/2009/xls/gdp2q09_3rd.xls
[spreadsheet]
and
Highlights
http://www.bea.gov/newsreleases/national/gdp/2009/pdf/gdp2q09_3rd_fax.pdf
Real gross domestic product -- the output of goods and services produced by labor and property
located in the United States -- decreased at an annual rate of 0.7 percent in the second quarter of 2009,
(that is, from the first quarter to the second quarter), according to the "third" estimate released by the
Bureau of Economic Analysis. In the first quarter, real GDP decreased 6.4 percent.
The GDP estimate released today is based on more complete source data than were available for
the "second" estimate issued last month. In the second estimate, the decrease in real GDP was 1.0
percent (see "Revisions" on page 3).
The decrease in real GDP in the second quarter primarily reflected negative contributions from
private inventory investment, nonresidential fixed investment, residential fixed investment, personal
consumption expenditures (PCE), and exports that were partly offset by positive contributions from
federal government spending and state and local government spending. Imports, which are a subtraction
in the calculation of GDP, decreased.
The much smaller decrease in real GDP in the second quarter than in the first primarily reflected
much smaller decreases in nonresidential fixed investment and in exports, an upturn in federal
government spending, a smaller decrease in private inventory investment, an upturn in state and local
government spending, and a smaller decrease in residential fixed investment that were partly offset by a
much smaller decrease in imports and a downturn in PCE.
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 2009 (THIRD ESTIMATE) [30 September 2009]
CORPORATE PROFITS: SECOND QUARTER 2009 (REVISED ESTIMATE)
http://www.bea.gov/newsreleases/national/gdp/2009/gdp2q09_3rd.htm
or
http://www.bea.gov/newsreleases/national/gdp/2009/pdf/gdp2q09_3rd.pdf
[full-text, 15 pages]
or
http://www.bea.gov/newsreleases/national/gdp/2009/xls/gdp2q09_3rd.xls
[spreadsheet]
and
Highlights
http://www.bea.gov/newsreleases/national/gdp/2009/pdf/gdp2q09_3rd_fax.pdf
Real gross domestic product -- the output of goods and services produced by labor and property
located in the United States -- decreased at an annual rate of 0.7 percent in the second quarter of 2009,
(that is, from the first quarter to the second quarter), according to the "third" estimate released by the
Bureau of Economic Analysis. In the first quarter, real GDP decreased 6.4 percent.
The GDP estimate released today is based on more complete source data than were available for
the "second" estimate issued last month. In the second estimate, the decrease in real GDP was 1.0
percent (see "Revisions" on page 3).
The decrease in real GDP in the second quarter primarily reflected negative contributions from
private inventory investment, nonresidential fixed investment, residential fixed investment, personal
consumption expenditures (PCE), and exports that were partly offset by positive contributions from
federal government spending and state and local government spending. Imports, which are a subtraction
in the calculation of GDP, decreased.
The much smaller decrease in real GDP in the second quarter than in the first primarily reflected
much smaller decreases in nonresidential fixed investment and in exports, an upturn in federal
government spending, a smaller decrease in private inventory investment, an upturn in state and local
government spending, and a smaller decrease in residential fixed investment that were partly offset by a
much smaller decrease in imports and a downturn in PCE.
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 : 9:34 AM
