Friday, August 26, 2011

[IWS] BEA: GDP & Corporate Profits, 2nd Qtr. 2011 (estimate) [26 August 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


National Income and Product Accounts

Gross Domestic Product, 2nd quarter 2011 (second estimate)

Corporate Profits, 2nd quarter 2011 (preliminary estimate)


[full-text, 16 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 1.0 percent in the second quarter of 2011,

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

Bureau of Economic Analysis.  In the first quarter, real GDP increased 0.4 percent.


        The GDP estimates released today are based on more complete source data than were available

for the "advance" estimate issued last month.  In the advance estimate, the increase in real GDP was 1.3

percent (see "Revisions" on page 3).


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

nonresidential fixed investment, exports, personal consumption expenditures (PCE), and federal

government spending that were partly offset by negative contributions from state and local government

spending and private inventory investment.  Imports, which are a subtraction in the calculation of GDP,



        The acceleration in real GDP in the second quarter primarily reflected a deceleration in imports,

an upturn in federal government spending, and an acceleration in nonresidential fixed investment that

were partly offset by decelerations in PCE and in exports and a downturn in private inventory



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               
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