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, Nov 20
05:30 AM Bough Making in Angels Camp on November 20th!
All Day Yoga - Gentle Flow
04:00 PM Angels Camp Rings in the Holidays with Silver Bells
Tuesday, Nov 21
All Day Yoga - Gentle Flow
11:00 AM ARNOLD SIR, Branch 152, Monthly Luncheon Meeting on Tuesday, November 21, 2017, 11:00 am
Wednesday, Nov 22
All Day Overeaters Anonymous meeting
All Day Yoga - Gentle Flow
Thursday, Nov 23
All Day Crossing California, Sierra to the Sea, October 8 through November 26 at Petroglyphe
All Day Yoga - Gentle Flow
01:00 PM Free Community Thanksgiving Dinner
Friday, Nov 24
All Day Crossing California, Sierra to the Sea, October 8 through November 26 at Petroglyphe
All Day Yoga - Gentle Flow
06:00 PM Get Your Floats Ready for The Christmas in White Pines Parade of Lights on November 24th
07:00 PM Music At Bistro Espresso
Saturday, Nov 25
All Day Crossing California, Sierra to the Sea, October 8 through November 26 at Petroglyphe
09:00 AM Christmas in the Country, Craft Faire,Bake Sale & Luncheon
All Day Yoga - Gentle Flow
05:00 PM The Big 25th Annual Dorrington Christmas Tree Lighting is Nov. 25th
Sunday, Nov 26
All Day Crossing California, Sierra to the Sea, October 8 through November 26 at Petroglyphe
All Day Yoga - Gentle Flow
Monday, Nov 27
All Day Yoga - Gentle Flow
Tuesday, Nov 28
All Day Yoga - Gentle Flow
Wednesday, Nov 29
All Day Overeaters Anonymous meeting
All Day Yoga - Gentle Flow
Thursday, Nov 30
All Day Yoga - Gentle Flow
06:00 PM Dr. Smart of MTHD Speaks at Independence Hall on November 30th
Friday, Dec 1
All Day Holiday Festival of Wines and Murphys Open House
All Day Yoga - Gentle Flow
05:00 PM Murphys Open House, December 1, 2017, 5-8 pm Presented by the Murphys Business Association
07:00 PM Looking Over the President's Shoulder
Saturday, Dec 2
All Day Holiday Festival of Wines and Murphys Open House
10:00 AM Amador Flyfishers Hosting Free Fly Fishing Faire Saturday, December 2
10:00 AM Make Holiday Memories at Ironstone's Breakfast with Santa 2017
All Day Yoga - Gentle Flow
01:30 PM Mountain Melody Presents: "Winter Magic"
01:30 PM Mountain Melody Presents: "Winter Magic"
All Day Looking Over the President's Shoulder
Sunday, Dec 3
All Day Holiday Festival of Wines and Murphys Open House
All Day Yoga - Gentle Flow
04:00 PM Mountain Melody Presents: "Winter Magic"
All Day Looking Over the President's Shoulder

Search Announcements




Log In
Username

Password

Remember Me



Posted by: thepinetree on 10/27/2017 06:00 AM Updated by: thepinetree on 10/27/2017 06:00 AM
Expires: 01/01/2022 12:00 AM
:

US Economy Rolls On With 3% GDP Growth in Third Quarter

Washington, DC...Real gross domestic product (GDP) increased at an annual rate of 3.0 percent in the third quarter of 2017, according to the "advance" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 3.1 percent. The Bureau emphasized that the third-quarter advance estimate released today is based on source data that are incomplete or subject to further revision by the source agency. The "second" estimate for the third quarter, based on more complete data, will be released on November 29, 2017.




Real GDP: Percent Change from Preceding Quarter

The increase in real GDP in the third quarter reflected positive contributions from personal consumption
expenditures (PCE), private inventory investment, nonresidential fixed investment, exports, and federal
government spending. These increases 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, decreased (table 2).

The deceleration in real GDP growth in the third quarter primarily reflected decelerations in PCE, in
nonresidential fixed investment, and in exports that were partly offset by an acceleration in private
inventory investment and a downturn in imports.

Current-dollar GDP increased 5.2 percent, or $245.5 billion, in the third quarter to a level of $19,495.5
billion. In the second quarter, current-dollar GDP increased 4.1 percent, or $192.3 billion (table 1 and
table 3).

The price index for gross domestic purchases increased 1.8 percent in the third quarter, compared with
an increase of 0.9 percent in the second quarter (table 4). The PCE price index increased 1.5 percent,
compared with an increase of 0.3 percent. Excluding food and energy prices, the PCE price index
increased 1.3 percent, compared with an increase of 0.9 percent (appendix table A).


Personal Income (table 10)

Current-dollar personal income increased $113.7 billion in the third quarter, compared with an increase
of $119.1 billion in the second. The deceleration in personal income primarily reflected decelerations in
personal dividend income, in rental income, and in wages and salaries that were offset by an
acceleration in government social benefits, a smaller decrease in personal interest income, an
acceleration in nonfarm proprietors’ income, and a smaller decrease in farm proprietors’ income.

Disposable personal income increased $73.6 billion, or 2.1 percent, in the third quarter, compared with
an increase of $125.1 billion, or 3.6 percent, in the second. Real disposable personal income increased
0.6 percent, compared with an increase of 3.3 percent.

Personal saving was $494.8 billion in the third quarter, compared with $545.6 billion in the second. The
personal saving rate -- personal saving as a percentage of disposable personal income -- was 3.4 percent
in the third quarter, compared with 3.8 percent in the second.


Source Data for the Advance Estimate

Information on the source data in the advance estimate is provided in a Technical Note that is posted
with the news release on BEA’s Web site. A detailed "Key Source Data and Assumptions" file is also
posted for each release. For information on updates to GDP, see the "Additional Information" section
that follows.

* * *


Next release: November 29, 2017 at 8:30 A.M. EST
Gross Domestic Product: Third Quarter 2017 (Second Estimate)
Corporate Profits: Third Quarter 2017 (Preliminary Estimate)


Release Dates in 2018


Estimate 2017: IV and annual 2018: I 2018: II 2018: III
Gross Domestic Product
Advance January 26 April 27 July 27 October 26
Second February 28 May 30 August 29 November 28
Third March 28 June 28 September 27 December 21

Corporate Profits
Preliminary … May 30 August 29 November 28
Revised March 28 June 28 September 27 December 21



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.

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.”

Personal income is the income received by, or on behalf of, all persons from all sources: from
participation as laborers in production, from owning a home or business, from the ownership of
financial assets, and from government and business in the form of transfers. It includes income from
domestic sources as well as the rest of world. It does not include realized or unrealized capital gains or
losses.

Disposable personal income is the income available to persons for spending or saving. It is equal to
personal income less personal current taxes.

Personal outlays is the sum of personal consumption expenditures, personal interest payments, and
personal current transfer payments.

Personal saving is personal income less personal outlays and personal current taxes.
The personal saving rate is personal saving as a percentage of disposable personal income. (For a
comparison of personal saving in BEA's national income and product accounts (NIPAs) with personal
saving in the Federal Reserve Board's financial accounts of the United States, go to
www.bea.gov/national/nipaweb/nipa-frb.asp.

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 1.3
Note - Based on estimates from 1993 through 2016. 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: 2017-10-27 06:13:22   By: Anonymous
 
Great job Donald & 7 more years of growth.

[Reply ]

    Re:
    Posted on: 2017-10-27 08:44:31   By: Anonymous
     
    Wait till these tax increases pass, and then tout the Dotard

    [Reply ]

      Re: Making America GREAT Again!
      Posted on: 2017-10-27 15:14:51   By: Anonymous
       
      For your information dotard, President Trump is doing exactly what he said he would do.
      President Trump is Making America Great Again.

      [Reply ]

        Re: Making America GREAT Again!
        Posted on: 2017-10-27 15:15:37   By: Anonymous
         
        Carney: The Trump Economy Keeps Humiliating His Critics
        by JOHN CARNEY 27 Oct 2017

        Critics scoffed when President Trump unveiled his budget proposals last spring. They might not be scoffing much longer.
        Trump’s budget proposal in May showed the government achieving a balanced budget in large part because it forecasted the economy to grow at 3 percent, a dramatic increase from the sluggish 1.6 percent growth in the final year of the Obama administration. Many economists, however, said the number was unrealistic.

        The Federal Reserve and the International Monetary Fund predicted the economy would grow by just 2.1 percent this year. The Congressional Budget Office predicted the economy would grow by an average of just 1.8 percent during the next decade.

        The skepticism about Trump’s 3 percent was somewhat justified. Trump took over an economy that was teetering on the brink. In the first three months of the year, the economy grew at a rate of just 1.2 percent. Many economists believe Trump’s promises to revive American manufacturing and improve the balance of trade are unrealistic at best. Some fear limits on immigration or what they call “protectionism” could actually spark a recession.

        The Trump administration itself said the economy in 2017 would grow by around 2.3 percent, only rising to 3 percent by 2020.

        [Reply ]

          Obama's Greatness persists
          Posted on: 2017-10-28 04:10:16   By: Anonymous
           


          [Reply ]

    Re:
    Posted on: 2017-10-27 08:58:52   By: Anonymous
     
    Thank You President Trump !

    [Reply ]


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

Calendar

Photo Albums

phpws Business Directory


Mark Twain Medical Center
Meadowmont Pharmacy
Century 21 Sierra Properties
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

Ebbetts Pass Scenic Byway
Sierra Logging Museum
Calaveras Mentoriing
Jenny's Kitchen




Copyright © The Pine Tree 2005-2017