Friday, October 29, 2010

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[IWS] BEA: GROSS DOMESTIC PRODUCT 3rd Qtr. 2010 (advance estimate) [29 October 2010]

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
________________________________________________________________________

 

National Income and Product Accounts

Gross Domestic Product, 3rd quarter 2010 (advance estimate) [29 October 2010]

http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm

or

http://www.bea.gov/newsreleases/national/gdp/2010/pdf/gdp3q10_adv.pdf

[full-text, 13 pages]

or

http://www.bea.gov/newsreleases/national/gdp/2010/xls/gdp3q10_adv.xls

[spreadsheet]

and

Highlights

http://www.bea.gov/newsreleases/national/gdp/2010/pdf/gdp3q10_adv_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 2.0 percent in the third quarter of 2010,

(that is, from the second quarter to the third quarter), according to the "advance" estimate released by

the Bureau of Economic Analysis.  In the second quarter, real GDP increased 1.7 percent.

 

      The Bureau emphasized that the third-quarter advance estimate released today is based on source

data that are incomplete or subject to further revision by the source agency (see the box on page 3).

The "second" estimate for the third quarter, based on more complete data, will be released on November 23,

2010.

 

      The increase in real GDP in the third quarter primarily reflected positive contributions from

personal consumption expenditures (PCE), private inventory investment, nonresidential fixed

investment, federal government spending, and exports that were partly offset by a negative contribution

from residential fixed investment.  Imports, which are a subtraction in the calculation of GDP, increased.

 

      The small acceleration in real GDP in the third quarter primarily reflected a sharp deceleration in

imports and accelerations in private inventory investment and in PCE that were partly offset by a

downturn in residential fixed investment and decelerations in nonresidential fixed investment and in

exports.

 

__________________________

 

      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 (2005)

dollars.  Price indexes are chain-type measures.

 

      This news release is available on BEA’s Web site along with the Technical Note and Highlights

related to this release.

 

_________________________

 

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                  
****************************************

 

 




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