The Growth Gap Widens As U.S. Heads Into Another Recession: Real Gross Domestic Product Down From 3.1% in Third Quarter to .1% in Fourth Quarter 2012! — Videos
Posted on February 28, 2013. Filed under: American History, Banking, Blogroll, Books, Business, College, Communications, Demographics, Economics, Education, Employment, Energy, Federal Government, Federal Government Budget, Fiscal Policy, history, Inflation, Language, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Psychology, Quotations, Raves, Regulations, Reviews, Tax Policy, Taxes, Unemployment, Video, Wealth | Tags: Barack Obama, Ben Bernanke, Bubbles, Chart, Currency War, Danielle Park, Economic Collapse, economic growth, Economic Recoveries, Economics, Fear, Gerald Celente, Kevin Brady, Michael Boskin, monetary policy, Peter Schiff, Politics, President Obama, Real Gross Domestic Product, Regulations, The Great Depression, The Great Recession, Uncertainty, Videos |
Gerald Celente Predicts Economic Recession
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Gerald Celente: World Bank, Banksters, Coming Collapse.
Peter Schiff – Economic Collapse 2013
Peter Schiff: It’s Going To Hit The Fan During Obama’s Second Term – Fox Business
Peter Schiff: Wall Street’s rising back thanks to the taxpayers
Jim Rogers Asks Whether Obama Is ‘Delusional’ Or ‘Lying’
Chairman Kevin Brady presents his Opening Statement During JEC Hearing
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Harvey Golub on Fed Monetary Policy: We’re Creating a Series of Bubbles
Marc Faber Odds of World Heading Into Global Recession By 2013 Is 100% Certainty
JIM ROGERS – ‘If You Are Not Worried About 2013, Please – Get Worried’
Jim Rogers author of “Street Smarts” sits down w Glenn Beck on The Blaze TV re.
US to go into recession: Danielle Park
fiscal policy & automatic stabilizers
Austrian Economics versus Mainstream Economics | Mark Thornton
Econ Crisis 2 – Recessions
Old School Macro
Fiscal Policy
Deficits & The Debt
How Do Banks Work?
Central Bank & Monetary Policy
* See the navigation bar at the right side of the news release text for links to data tables,
contact personnel and their telephone numbers, and supplementary materials.
Lisa S. Mataloni: | (202) 606-5304 | (GDP) | gdpniwd@bea.gov |
Recorded message: | (202) 606-5306 | ||
Ralph Stewart: | (202) 606-2649 | (News Media) | |
Jeannine Aversa: | (202) 606-2649 | (News Media) |
Gross Domestic Product, 4th quarter and annual 2012 (second estimate)
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 0.1 percent in the fourth quarter of 2012 (that is, from the third quarter to the fourth quarter), according to the "second" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.1 percent. The GDP estimate released today is based on more complete source data than were available for the "advance" estimate issued last month. In the advance estimate, real GDP declined 0.1 percent. The upward revision to the percent change in real GDP is smaller than the average revision from the advance to second estimate of 0.5 percentage point. While today’s release has revised the direction of change in real GDP, the general picture of the economy for the fourth quarter remains largely the same as what was presented last month (for more information, see "Revisions" on page 3). The increase in real GDP in the fourth quarter primarily reflected positive contributions from personal consumption expenditures (PCE), nonresidential fixed investment, and residential fixed investment that were partly offset by negative contributions from private inventory investment, federal government spending, exports, and state and local government spending. Imports, which are a subtraction in the calculation of GDP, decreased. The deceleration in real GDP in the fourth quarter primarily reflected downturns in private inventory investment, in federal government spending, in exports, and in state and local government spending that were partly offset by an upturn in nonresidential fixed investment, a larger decrease in imports, and an acceleration in PCE. _______ 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. For information on revisions, see "Revisions to GDP, GDI, and Their Major Components". _______ Final sales of computers added 0.10 percentage point to the fourth-quarter change in real GDP after adding 0.11 percentage point to the third-quarter change. Motor vehicle output added 0.19 percentage point to the fourth-quarter change in real GDP after subtracting 0.25 percentage point from the third-quarter change. The price index for gross domestic purchases, which measures prices paid by U.S. residents, increased 1.5 percent in the fourth quarter, 0.2 percentage point more than in the advance estimate; this index increased 1.4 percent in the third quarter. Excluding food and energy prices, the price index for gross domestic purchases increased 1.1 percent in the fourth quarter, compared with an increase of 1.2 percent in the third. Real personal consumption expenditures increased 2.1 percent in the fourth quarter, compared with an increase of 1.6 percent in the third. Durable goods increased 13.8 percent, compared with an increase of 8.9 percent. Nondurable goods increased 0.1 percent, compared with an increase of 1.2 percent. Services increased 0.9 percent, compared with an increase of 0.6 percent. Real nonresidential fixed investment increased 9.7 percent in the fourth quarter, in contrast to a decrease of 1.8 percent in the third. Nonresidential structures increased 5.8 percent; it was unchanged in the third quarter. Equipment and software increased 11.3 percent in the fourth quarter, in contrast to a decrease of 2.6 percent in the third. Real residential fixed investment increased 17.5 percent, compared with an increase of 13.5 percent. Real exports of goods and services decreased 3.9 percent in the fourth quarter, in contrast to an increase of 1.9 percent in the third. Real imports of goods and services decreased 4.5 percent, compared with a decrease of 0.6 percent. Real federal government consumption expenditures and gross investment decreased 14.8 percent in the fourth quarter, in contrast to an increase of 9.5 percent in the third. National defense decreased 22.0 percent, in contrast to an increase of 12.9 percent. Nondefense increased 1.8 percent, compared with an increase of 3.0 percent. Real state and local government consumption expenditures and gross investment decreased 1.3 percent, in contrast to an increase of 0.3 percent. The change in real private inventories subtracted 1.55 percentage points from the fourth-quarter change in real GDP, after adding 0.73 percentage point to the third-quarter change. Private businesses increased inventories $12.0 billion in the fourth quarter, following increases of $60.3 billion in the third and $41.4 billion in the second. Real final sales of domestic product -- GDP less change in private inventories -- increased 1.7 percent in the fourth quarter, compared with an increase of 2.4 percent in the third. Gross domestic purchases Real gross domestic purchases -- purchases by U.S. residents of goods and services wherever produced -- decreased 0.1 percent in the fourth quarter, in contrast to an increase of 2.6 percent in the third. Current-dollar GDP Current-dollar GDP -- the market value of the nation's output of goods and services -- increased 1.0 percent, or $40.2 billion, in the fourth quarter to a level of $15,851.2 billion. In the third quarter, current-dollar GDP increased 5.9 percent, or $225.4 billion. Revisions The "second" estimate of the fourth-quarter percent change in GDP is 0.2 percentage point, or $9.2 billion, more than the advance estimate issued last month, primarily reflecting an upward revision to exports, a downward revision to imports, and an upward revision to nonresidential fixed investment that were partly offset by a downward revision to private inventory investment. Advance Estimate Second Estimate (Percent change from preceding quarter) Real GDP....................................... -0.1 0.1 Current-dollar GDP............................. 0.5 1.0 Gross domestic purchases price index........... 1.3 1.5 2012 GDP Real GDP increased 2.2 percent in 2012 (that is, from the 2011 annual level to the 2012 annual level), compared with an increase of 1.8 percent in 2011. The increase in real GDP in 2012 primarily reflected positive contributions from personal consumption expenditures (PCE), nonresidential fixed investment, exports, residential fixed investment, and private inventory investment that were partly offset by negative contributions from federal government spending and from state and local government spending. Imports, which are a subtraction in the calculation of GDP, increased. The acceleration in real GDP in 2012 primarily reflected a deceleration in imports, upturns in residential fixed investment and in private inventory investment and smaller decreases in state and local government spending and in federal government spending that were partly offset by decelerations in PCE, exports, and nonresidential fixed investment. The price index for gross domestic purchases increased 1.7 percent in 2012, compared with an increase of 2.5 percent in 2011. Current-dollar GDP increased 4.0 percent, or $605.8 billion, in 2012 to a level of $15,681.5 billion, compared with an increase of 4.0 percent, or $576.8 billion, in 2011. During 2012 (that is, measured from the fourth quarter of 2011 to the fourth quarter of 2012), real GDP increased 1.6 percent. Real GDP increased 2.0 percent during 2011. The price index for gross domestic purchases increased 1.5 percent during 2012, compared with an increase of 2.5 percent during 2011. * * * BEA's national, international, regional, and industry estimates; the Survey of Current Business; and BEA news releases are available without charge on BEA's Web site at www.bea.gov. By visiting the site, you can also subscribe to receive free e-mail summaries of BEA releases and announcements. * * * Next release -- March 28, 2013 at 8:30 A.M. EDT for: Gross Domestic Product: Fourth Quarter and Annual 2012 (Third Estimate) Corporate Profits: Fourth Quarter and Annual 2012Read Full Post | Make a Comment ( None so far )
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