Weather
The Pine Tree, News for Calaveras County and Beyond Weather
Amador Angels Camp Arnold Bear Valley Copperopolis Murphys San Andreas Valley Springs Moke Hill/West Point Tuolumne
News
Business Directory
Weather & Roads
Sports
Real Estate
Search
Weekly & Grocery Ads
Entertainment
Life & Style
Government
Law Enforcement
Business
Wine News
Health & Fitness
Home & Garden
Food & Dining
Religion & Faith
Frogtown USA
Legal Notices
Calendar
Polls
Columns
Free Classifieds
Letters to the Editor
Obituaries
About Us

Coming Soon...
Monday, Sep 24
All Day Calaveras/Amador County Autism/Aspergers Peer Support Group
Until 09:00 PM Writer United writing group
All Day Song Posse
Tuesday, Sep 25
All Day Calaveras/Amador County Autism/Aspergers Peer Support Group
01:00 PM Voices of Wisdom writing classes
All Day Song Posse
Wednesday, Sep 26
11:00 AM Guided Tours of Ironstone Vineyards
All Day Calaveras/Amador County Autism/Aspergers Peer Support Group
All Day Song Posse
Thursday, Sep 27
10:00 AM VA Health Van Clinic Sept. 27th Jenny Lind Veterans Memorial Bldg.
11:00 AM Guided Tours of Ironstone Vineyards
All Day Calaveras/Amador County Autism/Aspergers Peer Support Group
12:00 PM Sierra Nevada Logging Museum Open Thurs - Sun
05:00 PM Candidate’s Debate Night September 27th in Angels Camp
All Day Song Posse
Friday, Sep 28
10:30 AM Groundbreaking Ceremony for New Valley Springs Health & Wellness Center
11:00 AM Guided Tours of Ironstone Vineyards
All Day Calaveras/Amador County Autism/Aspergers Peer Support Group
12:00 PM Sierra Nevada Logging Museum Open Thurs - Sun
05:00 PM Angels Camp Farmers Market
05:30 PM Friday Night Music at Alchemy
All Day Song Posse
Saturday, Sep 29
07:00 AM Mark Twain Medical Center Hosts 20th Annual Fall Health Fair Saturday September 29th!
08:00 AM Watertown Shootout & Trap Fundraiser
10:00 AM Old Timers Museum Walking Tours Are Every Saturday at 10am.
11:00 AM Guided Tours of Ironstone Vineyards
11:00 AM Town Tours of Columbia State Historic Park
All Day Calaveras/Amador County Autism/Aspergers Peer Support Group
12:00 PM Sierra Nevada Logging Museum Open Thurs - Sun
04:00 PM Harvest Happy Hour with Milliaire
04:00 PM Story Swap
05:30 PM Help ATCAA Fill The Bowls at Their Inaugural Empty Bowls Event
Until 08:30 PM Song Posse
Sunday, Sep 30
All Day 5th Annual Gold Color Run
11:00 AM Sunday Funday at Ironstone Vineyards
11:00 AM Guided Tours of Ironstone Vineyards
11:00 AM Town Tours of Columbia State Historic Park
All Day Calaveras/Amador County Autism/Aspergers Peer Support Group
12:00 PM Sierra Nevada Logging Museum Open Thurs - Sun
Monday, Oct 1
All Day Calaveras/Amador County Autism/Aspergers Peer Support Group
Tuesday, Oct 2
All Day Calaveras/Amador County Autism/Aspergers Peer Support Group
Wednesday, Oct 3
11:00 AM Guided Tours of Ironstone Vineyards
All Day Calaveras/Amador County Autism/Aspergers Peer Support Group
Thursday, Oct 4
11:00 AM Guided Tours of Ironstone Vineyards
11:30 AM A Plan 4 Me FREE Women's Health Seminar Oct. 4th at 11:30 a.m.
All Day Calaveras/Amador County Autism/Aspergers Peer Support Group
Friday, Oct 5
11:00 AM Guided Tours of Ironstone Vineyards
All Day Calaveras/Amador County Autism/Aspergers Peer Support Group
05:30 PM Friday Night Music at Alchemy
Saturday, Oct 6
All Day Murphys Celebrates 25th Anniversary of Grape Stomp Competition! Registration Open Now!
09:30 AM Calaveras Grape Stomp
11:00 AM Guided Tours of Ironstone Vineyards
11:00 AM Town Tours of Columbia State Historic Park
All Day Calaveras/Amador County Autism/Aspergers Peer Support Group
Sunday, Oct 7
11:00 AM Guided Tours of Ironstone Vineyards
All Day Calaveras/Amador County Autism/Aspergers Peer Support Group

Search Announcements




Log In
Username

Password

Remember Me



Posted by: thepinetree on 09/28/2017 07:00 AM Updated by: thepinetree on 09/28/2017 07:00 AM
Expires: 01/01/2022 12:00 AM
:

2nd Quarter Gross Domestic Product or GDP Raised To 3.1% Growth Rate

Washington, DC....Real gross domestic product (GDP) increased at an annual rate of 3.1 percent in the second quarter of 2017 (table 1), according to the "third" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 1.2 percent. The GDP estimate released today is based on more complete source data than were available for the "second" estimate issued last month. In the second estimate, the increase in real GDP was 3.0 percent. With this third estimate for the second quarter, private inventory investment increased more than previously estimated, but the general picture of economic growth remains the same. (see "Updates to
GDP" on page 2).




Real GDP: Percent Change from Preceding Quarter

Real gross domestic income (GDI) increased 2.9 percent in the second quarter, compared with an
increase of 2.7 percent in the first. The average of real GDP and real GDI, a supplemental measure of
U.S. economic activity that equally weights GDP and GDI, increased 3.0 percent in the second quarter,
compared with an increase of 2.0 percent in the first quarter (table 1).

The increase in real GDP in the second quarter primarily reflected positive contributions from PCE,
nonresidential fixed investment, exports, federal government spending, and private inventory
investment that were partly offset by negative contributions from residential fixed investment and state
and local government spending. Imports, which are a subtraction in the calculation of GDP, increased
(table 2).

The acceleration in real GDP in the second quarter reflected an upturn in private inventory investment,
an acceleration in PCE, a deceleration in imports, and an upturn in federal government spending that
were partly offset by a downturn in residential fixed investment, a deceleration in exports, and a
downturn in state and local government spending.

Current-dollar GDP increased 4.1 percent, or $192.3 billion, in the second quarter to a level of $19,250.0
billion. In the first quarter, current-dollar GDP increased 3.3 percent, or $152.2 billion (table 1 and table
3).

The price index for gross domestic purchases increased 0.9 percent in the second quarter, compared
with an increase of 2.6 percent in the first quarter (table 4). The PCE price index increased 0.3 percent,
compared with an increase of 2.2 percent. Excluding food and energy prices, the PCE price index
increased 0.9 percent, compared with an increase of 1.8 percent (appendix table A).


Updates to GDP

The revision to the percent change in real GDP primarily reflected an upward revision to private
inventory investment. For more information, see the Technical Note. For information on updates to
GDP, see the "Additional Information" section that follows.


Advance Estimate Second Estimate Third Estimate
(Percent change from preceding quarter)

Real GDP 2.6 3.0 3.1
Current-dollar GDP 3.6 4.0 4.1
Real GDI … 2.9 2.9
Average of Real GDP and Real GDI … 3.0 3.0
Gross domestic purchases price index 0.8 0.8 0.9
PCE price index 0.3 0.3 0.3



Corporate Profits (table 12)

Profits from current production (corporate profits with inventory valuation adjustment and capital
consumption adjustment) increased $14.4 billion in the second quarter, in contrast to a decrease of
$46.2 billion in the first quarter.

Profits of domestic financial corporations decreased $33.8 billion in the second quarter, compared with
a decrease of $40.7 billion in the first. Profits of domestic nonfinancial corporations increased $59.1
billion, compared with an increase of $3.8 billion. Rest-of-the-world profits decreased $10.8 billion,
compared with a decrease of $9.3 billion. In the second quarter, receipts increased $5.5 billion, and
payments increased $16.3 billion.



* * *

Next release: October 27, 2017 at 8:30 A.M. EDT
Gross Domestic Product: Third Quarter 2017 (Advance Estimate)

* * *


Additional Information

Resources

Additional resources available at www.bea.gov:
• Stay informed about BEA developments by reading the BEA blog, signing up for BEA’s email
subscription service, or following BEA on Twitter @BEA_News.
• Historical time series for these estimates can be accessed in BEA’s Interactive Data Application.
• Access BEA data by registering for BEA’s Data Application Programming Interface (API).
• For more on BEA’s statistics, see our monthly online journal, the Survey of Current Business.
• BEA's news release schedule
• NIPA Handbook: Concepts and Methods of the U.S. National Income and Product Accounts

Definitions

Gross domestic product (GDP) is the value of the goods and services produced by the nation’s economy
less the value of the goods and services used up in production. GDP is also equal to the sum of personal
consumption expenditures, gross private domestic investment, net exports of goods and services, and
government consumption expenditures and gross investment.

Gross domestic income (GDI) is the sum of incomes earned and costs incurred in the production of GDP.
In national economic accounting, GDP and GDI are conceptually equal. In practice, GDP and GDI differ
because they are constructed using largely independent source data. Real GDI is calculated by deflating
gross domestic income using the GDP price index as the deflator, and is therefore conceptually
equivalent to real GDP.

Current-dollar estimates are valued in the prices of the period when the transactions occurred—that is,
at “market value.” Also referred to as “nominal estimates” or as “current-price estimates.”
Real values are inflation-adjusted estimates—that is, estimates that exclude the effects of price changes.
The gross domestic purchases price index measures the prices of final goods and services purchased by
U.S. residents.

The personal consumption expenditure price index measures the prices paid for the goods and services
purchased by, or on the behalf of, “persons.”

Profits from current production, referred to as corporate profits with inventory valuation adjustment
(IVA) and capital consumption adjustment (CCAdj) in the NIPAs, is a measure of the net income of
corporations before deducting income taxes that is consistent with the value of goods and services
measured in GDP. The IVA and CCAdj are adjustments that convert inventory withdrawals and
depreciation of fixed assets reported on a tax-return, historical-cost basis to the current-cost economic
measures used in the national income and product accounts. Profits for domestic industries reflect profits
for all corporations located within the within the geographic borders of the United States. Rest-of-the-world
profits are measured as profits earned abroad by U.S. corporations less profits earned in the United States
by foreign corporations.

For more definitions, see the Glossary: National Income and Product Accounts.


Statistical conventions

Annual rates. Quarterly values are expressed at seasonally-adjusted annual rates (SAAR), unless
otherwise specified. Dollar changes are calculated as the difference between these SAAR values. For
detail, see the FAQ “Why does BEA publish estimates at annual rates?”

Percent changes in quarterly series are calculated from unrounded data and are displayed at annual
rates, unless otherwise specified. For details, see the FAQ “How is average annual growth calculated?”

Quantities and prices. Quantities, or “real” volume measures, and prices are expressed as index
numbers with a specified reference year equal to 100 (currently 2009). Quantity and price indexes are
calculated using a Fisher-chained weighted formula that incorporates weights from two adjacent
periods (quarters for quarterly data and annuals for annual data). “Real” dollar series are calculated by
multiplying the published quantity index by the current dollar value in the reference year (2009) and
then dividing by 100. Percent changes calculated from real quantity indexes and chained-dollar levels
are conceptually the same; any differences are due to rounding.

Chained-dollar values are not additive because the relative weights for a given period differ from those
of the reference year. In tables that display chained-dollar values, a “residual” line shows the difference
between the sum of detailed chained-dollar series and its corresponding aggregate.


Updates to GDP

BEA releases three vintages of the current quarterly estimate for GDP: "Advance" estimates are
released near the end of the first month following the end of the quarter and are based on source data
that are incomplete or subject to further revision by the source agency; “second” and “third” estimates
are released near the end of the second and third months, respectively, and are based on more detailed
and more comprehensive data as they become available.

Annual and comprehensive updates are typically released in late July. Annual updates generally cover at
least the 3 most recent calendar years (and their associated quarters) and incorporate newly available
major annual source data as well as some changes in methods and definitions to improve the accounts.
Comprehensive (or benchmark) updates are carried out at about 5-year intervals and incorporate major
periodic source data, as well as major conceptual improvements.
The table below shows the average revisions to the quarterly percent changes in real GDP between
different estimate vintages, without regard to sign.

Vintage Average Revision Without Regard to Sign
(percentage points, annual rates)
Advance to second 0.5
Advance to third 0.6
Second to third 0.2
Advance to latest 1.1
Note - Based on estimates from 1993 through 2015. For more information on GDP
updates, see Revision Information on the BEA Web site.

The larger average revision from the advance to the latest estimate reflects the fact that periodic
comprehensive updates include major statistical and methodological improvements.

Unlike GDP, an advance current quarterly estimate of GDI is not released because data on domestic
profits and on net interest of domestic industries are not available. For fourth quarter estimates, these
data are not available until the third estimate.


Comments - Make a comment
The comments are owned by the poster. We are not responsible for its content. We value free speech but remember this is a public forum and we hope that people would use common sense and decency. If you see an offensive comment please email us at news@thepinetree.net
No Subject
Posted on: 2017-09-28 09:29:10   By: Anonymous
 
Trump needs to put away his tweeting machine and start trying to make Puerto Rico great again. Or, if not great, at least livable with food, water and fuel.

It's his Katrina moment and so far he is failing. Filling the docks with food is no help to people not living on the dock. Send in the army with their trucks and helicopters to get it all delivered. Send the army engineers to put up temporary bridges. Put someone on the island with authority to make it all happen. Get one of the generals off his butt in an air conditioned office and put him in Puerto Rico. In a tent, if necessary. For people to still have no food and water after a week is disgraceful. Trump needs to pretend that they are white people that need help.

[Reply ]

    Charging Evacuees
    Posted on: 2017-09-28 09:47:35   By: Anonymous
     
    The Trump administration is forcing Americans seeking evacuation from Puerto Rico to sign promissory notes ensuring full repayment for transportation costs, and is keeping evacuees' passports as collateral, according to a new report.

    With the tRumpers, it's always about the $ , this is disaster capitalism.

    [Reply ]

Assessment
Posted on: 2017-09-28 12:23:23   By: Anonymous
 
I'm a bit skeptical that these are not 'alternate facts'. Trump, at the beginning of the year, asked the Bureau to change the way it calculates growth. He was advised 'it will make the numbers look better than they actually are'.

Independent economic analyses don't necessarily back up a GDP growth rate of 3%. Unemployment is not really changing. While some jobs have been saved more jobs are going outside our boarders (Carrier is a perfect example-2 higher paying jobs gone for every lower job retained). Wages are not really increasing. The jobs that are being created are lower paying positions. Corp profits are up but then so are prices.

[Reply ]

    Re: Assessment
    Posted on: 2017-09-28 12:28:37   By: Anonymous
     
    Don't forget this one VERY TELLING addition at the end of the article:

    The larger average revision from the advance to the latest estimate reflects the fact that periodic comprehensive updates include major statistical and methodological improvements.

    The Bureau made MAJOR statistical and methodological 'improvements' to the way GDP is now calculated.. .exactly what Trump asked for in order to make the numbers look better.

    [Reply ]

      Re: Assessment
      Posted on: 2017-09-29 12:27:40   By: Anonymous
       





































































































































































































































      when the Repubes and Trump do NOTHING, the economy improves.

      Hmmmm...


      [Reply ]


What's Related
These might interest you as well
Local News

Calendar

phpws Business Directory

Photo Albums


Mark Twain Medical Center
Meadowmont Pharmacy
Bank of Stockton
Bear Valley Real Estate
Bear Valley Cross Country
Cedar Creek Realty
Cave, Mine & Zip Lines
Fox Security
Bistro Espresso
Pinnacle Physical Therapy
Chatom Winery
Middleton's Furniture
Bear Valley Mountain Resort
Paul D. Bertini
Premier Properties
High Country Spa & Stove
Sierra Logging Museum
Calaveras Mentoriing

Ebbetts Pass Scenic Byway
Sierra Logging Museum
Jenny's Kitchen

Copyright © The Pine Tree 2005-2018