The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
WEDNESDAY October 31, 2007 GDP GROWS 3.9 PERCENT IN THIRD QUARTER “Advance” Estimate of GDP ug Real gross domestic product (GDP) increased 3.9 percent in the third quarter of 2007 after increasing 3.8 percent in the second, according to estimates released today by the Bureau of Economic Analysis. Quarter-to-Quarter Growth in Real GDP 6 Percent 4 2 0 IV I 2003 II III 2004 IV I II III 2005 IV I II III 2006 IV I II III 2007 Real GDP growth is measured at seasonally adjusted annual rates. GDP Sources of real GDP growth in the third quarter: • • Personal consumption growth rebounded to 3.0 percent after rising 1.4 percent in the second quarter. Goods export growth was the largest since the fourth quarter of 1996. In contrast: • • Housing registered a bigger decline than in the second quarter. Import growth resumed after a decline in the second quarter. Prices Led by a decline in energy prices, prices of goods and services purchased by U.S. residents decelerated in the third quarter, rising 1.6 percent after rising 3.8 percent in the second quarter. Personal Income Real disposable personal income—income adjusted for inflation and taxes—increased 4.4 percent in the third quarter, compared with a 0.6 percent increase in the second quarter. The higher growth rate reflected the decline in inflation. BEA data—including GDP, personal income, the balance of payments, foreign direct investment, the input-output accounts, and economic data for states, local areas, and industries—are available on the BEA Web site: www.bea.gov. E-mail alerts are also available. NOTE: The “preliminary” estimates of GDP and corporate profits for the third quarter of 2007 will be released on November 29, 2007. Contact: Ralph Stewart 202–606–2649 Bureau of Economic Analysis, U.S. Department of Commerce
@FedFRASER