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[IWS] GDP & CORPORATE PROFITS: 4TH QTR & ANNUAL 2014 [27 March 2015]
IWS Documented News Service
Institute for Workplace Studies-----------------Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
16 East 34th Street, 4th floor--------------------Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
NOTE: Funding for this service ends on 31 March 2015. Postings will end on this date as well.
National Income and Product Accounts
GROSS DOMESTIC PRODUCT: FOURTH QUARTER AND ANNUAL 2014 (THIRD ESTIMATE)
CORPORATE PROFITS: FOURTH QUARTER AND ANNUAL 2014 [27 March 2015]
[full-text, 19 pages]
Real gross domestic product -- the value of the production of goods and services in the United
States, adjusted for price changes -- increased at an annual rate of 2.2 percent in the fourth quarter of
2014, according to the "third" estimate released by the Bureau of Economic Analysis. In the third
quarter, real GDP increased 5.0 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 increase in real GDP was also 2.2
percent. While increases in exports and in personal consumption expenditures (PCE) were larger than
previously estimated and the change in private inventories was smaller, GDP growth is unrevised, and
the general picture of the economy for the fourth quarter remains the same (see "Revisions" on page 3).
The increase in real GDP in the fourth quarter reflected positive contributions from PCE,
nonresidential fixed investment, exports, state and local government spending, and residential fixed
investment that were partly offset by negative contributions from federal government spending and
private inventory investment. Imports, which are a subtraction in the calculation of GDP, increased.
The deceleration in real GDP growth in the fourth quarter primarily reflected an upturn in
imports, a downturn in federal government spending, a deceleration in nonresidential fixed investment,
and a larger decrease in private inventory investment that were partly offset by accelerations in PCE and
in state and local government spending.
AND MUCH MORE...including TABLES....
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