Full text of U.S. Financial Data : September 30, 1999

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September 30, 1999

USFinancialData
THE WEEK'S HIGHLIGHTS:
Real GDP rose at its slowest pace in four years during the
second quarter, 1.6 percent at an annual rate, according to the
final estimate. Growth of nominal GDP, though, was revised
down 0.4 percentage points to 3 percent. Although real personal
consumption expenditures were revised upward, a downward
revision to nonfarm inventory investment and an upward revision
to U.S. imports were the primary factors accounting for slower
real GDP growth. Real GDP is up 3.9 percent from four quarters
earlier, with GDP measured in current prices up 5.1 percent.
Before taxes, the nominal value of corporate profits adjusted
for inventory valuation changes and depreciation rose 2 percent
during the second quarter. After taxes, however, corporate profits
(adjusted) fell 2.6 percent in the second quarter, the largest decline
in a year and a half.
August new home sales were at an annual rate of 983,000 units,
up 2.9 percent from July’s rate and 3.8 percent above June’s pace.
New home sales in August were 17.6 percent above a year earlier.
The Conference Board’s index of consumer confidence fell for the
third consecutive month in September.
Paced by a 4.6 percent rise in transportation orders, the nominal
value of new factory orders for manufactured durable goods
rose 0.9 percent in August. The value of factory shipments,
following gains of 0.8 percent in June and 0.9 percent in July,
rose 1.3 percent in August.
All data are seasonally adjusted unless otherwise indicated.
U.S. Financial Data is published weekly by the Research Division of the Federal Reserve Bank of
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Information in this publication is also included in the Federal Reserve Economic Data (FRED) electronic
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