Thursday, October 29, 2009
[IWS] BEA: GROSS DOMESTIC PRODUCT: THIRD QUARTER 2009 (ADVANCE ESTIMATE) [29 October 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: THIRD QUARTER 2009 (ADVANCE ESTIMATE) [29 October 2009]
http://www.bea.gov/newsreleases/national/gdp/2009/gdp3q09_adv.htm
or
http://www.bea.gov/newsreleases/national/gdp/2009/pdf/gdp3q09_adv.pdf
[full-text, 14 pages]
or
http://www.bea.gov/newsreleases/national/gdp/2009/xls/gdp3q09_adv.xls
[spreadsheet]
and
Highlights
http://www.bea.gov/newsreleases/national/gdp/2009/pdf/gdp3q09_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 3.5 percent in the third quarter of 2009,
(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 decreased 0.7 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 5). The
"second" estimate for the third quarter, based on more complete data, will be released on November 24,
2009.
The increase in real GDP in the third quarter primarily reflected positive contributions from
personal consumption expenditures (PCE), exports, private inventory investment, federal government
spending, and residential fixed investment. Imports, which are a subtraction in the calculation of GDP,
increased.
The upturn in real GDP in the third quarter primarily reflected upturns in PCE, in private
inventory investment, in exports, and in residential fixed investment and a smaller decrease in
nonresidential fixed investment that were partly offset by an upturn in imports, a downturn in state and
local government spending, and a deceleration in federal government spending.
Motor vehicle output added 1.66 percentage points to the third-quarter change in real GDP after
adding 0.19 percentage point to the second-quarter change. Final sales of computers subtracted 0.11
percentage point from the third-quarter change in real GDP after subtracting 0.04 percentage point from
the second-quarter change.
______________________
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 < http://www.bea.gov/newsreleases/national/gdp/2009/pdf/tech3q09_adv.pdf > Technical Note and < http://www.bea.gov/newsreleases/national/gdp/2009/pdf/gdp3q09_adv_fax.pdf > 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
****************************************
_______________________________
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 2009 (ADVANCE ESTIMATE) [29 October 2009]
http://www.bea.gov/newsreleases/national/gdp/2009/gdp3q09_adv.htm
or
http://www.bea.gov/newsreleases/national/gdp/2009/pdf/gdp3q09_adv.pdf
[full-text, 14 pages]
or
http://www.bea.gov/newsreleases/national/gdp/2009/xls/gdp3q09_adv.xls
[spreadsheet]
and
Highlights
http://www.bea.gov/newsreleases/national/gdp/2009/pdf/gdp3q09_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 3.5 percent in the third quarter of 2009,
(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 decreased 0.7 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 5). The
"second" estimate for the third quarter, based on more complete data, will be released on November 24,
2009.
The increase in real GDP in the third quarter primarily reflected positive contributions from
personal consumption expenditures (PCE), exports, private inventory investment, federal government
spending, and residential fixed investment. Imports, which are a subtraction in the calculation of GDP,
increased.
The upturn in real GDP in the third quarter primarily reflected upturns in PCE, in private
inventory investment, in exports, and in residential fixed investment and a smaller decrease in
nonresidential fixed investment that were partly offset by an upturn in imports, a downturn in state and
local government spending, and a deceleration in federal government spending.
Motor vehicle output added 1.66 percentage points to the third-quarter change in real GDP after
adding 0.19 percentage point to the second-quarter change. Final sales of computers subtracted 0.11
percentage point from the third-quarter change in real GDP after subtracting 0.04 percentage point from
the second-quarter change.
______________________
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 < http://www.bea.gov/newsreleases/national/gdp/2009/pdf/tech3q09_adv.pdf > Technical Note and < http://www.bea.gov/newsreleases/national/gdp/2009/pdf/gdp3q09_adv_fax.pdf > 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
****************************************
# posted by SBasefsky : 7:13 AM
