Thursday, April 28, 2011

[IWS] BEA: GROSS DOMESTIC PRODUCT, 1st Qtr 2011 (advance estimate) [28 April 2011]

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, 1st quarter 2011 (advance estimate) [28 April 2011]



[full-text, 14 pages]







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 1.8 percent in the first quarter of 2011 (that

is, from the fourth quarter to the first quarter) according to the "advance" estimate released by the

Bureau of Economic Analysis.  In the fourth quarter, real GDP increased 3.1 percent.


      The Bureau emphasized that the first-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 first quarter, based on more complete data, will be released on May 26, 2011.


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

personal consumption expenditures (PCE), private inventory investment, exports, and nonresidential

fixed investment that were partly offset by negative contributions from federal government spending and

state and local government spending.  Imports, which are a subtraction in the calculation of GDP,



      The deceleration in real GDP in the first quarter primarily reflected a sharp upturn in imports, a

deceleration in PCE, a larger decrease in federal government spending, and decelerations in

nonresidential fixed investment and in exports that were partly offset by a sharp upturn in private

inventory investment.


AND MUCH MORE...including TABLES....


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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) 262-6041               
Fax: (607) 255-9641                       



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