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Posted by: thepinetree on 10/26/2018 08:20 AM Updated by: thepinetree on 10/26/2018 08:21 AM
Expires: 01/01/2023 12:00 AM
:

Gross Domestic Product, 3rd quarter 2018 Advance Estimate of 3.5% Growth

Suitland, MD...From the Bureau of Economic Analysis...Real gross domestic product (GDP) increased at an annual rate of 3.5 percent in the third quarter of 2018, according to the "advance" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 4.2 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 (see “Source Data for the Advance Estimate” on page 2). The "second" estimate for the third quarter, based on more complete data, will be released on November 28, 2018.





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, state and local government spending, federal government spending, and nonresidential fixed investment that were partly offset by negative contributions from exports and residential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased (table 2).

The deceleration in real GDP growth in the third quarter reflected a downturn in exports and a deceleration in nonresidential fixed investment. Imports increased in the third quarter after decreasing in the second. These movements were partly offset by an upturn in private inventory investment.

Current dollar GDP increased 4.9 percent, or $247.1 billion, in the third quarter to a level of $20.66 trillion. In the second quarter, current-dollar GDP increased 7.6 percent, or $370.9 billion (table 1 and table 3).

The price index for gross domestic purchases increased 1.7 percent in the third quarter, compared with an increase of 2.4 percent in the second quarter (table 4). The PCE price index increased 1.6 percent, compared with an increase of 2.0 percent. Excluding food and energy prices, the PCE price index increased 1.6 percent, compared with an increase of 2.1 percent.

Personal Income (table 8)

Current-dollar personal income increased $180.4 billion in the third quarter, compared with an increase of $180.7 billion in the second quarter. Accelerations in rental income, wages and salaries, and nonfarm proprietors’ income were offset by a downturn in farm proprietors’ income and a slowdown in dividend income.

Disposable personal income increased $155.0 billion, or 4.1 percent, in the third quarter, compared with an increase of $168.9 billion, or 4.5 percent, in the second quarter. Real disposable personal income increased 2.5 percent, the same increase as in the second quarter.

Personal saving was $999.6 billion in the third quarter, compared with $1,054.3 billion in the second quarter. The personal saving rate -- personal saving as a percentage of disposable personal income -- was 6.4 percent in the third quarter, compared with 6.8 percent in the second quarter.

Source Data for the Advance Estimate

Information on the source data and key assumptions used for unavailable 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 28, 2018 at 8:30 A.M. EST
Gross Domestic Product, Third Quarter 2018 (Second Estimate)
Corporate Profits, Third Quarter 2018 (Preliminary Estimate)

* * *


Comments - Make a comment
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Trade War Casualties
Posted on: 2018-10-26 09:09:40   By: Anonymous
 
Ask farmers, steel manufacturer workers and others about Dump's insane trade tariffs.
Most are not happy with the unnecessary and ill advised capricious actions by a person who has ignored trade experts, and is hurting 400,000 either lost jobs, or losing farms.
China said it will not buy US soybeans or other commodities.

[Reply ]

    Re: Trade War Casualties
    Posted on: 2018-10-26 09:50:43   By: Anonymous
     
    All stock market gains of 2018 lost. Trump doing his best to kill the Obama economic miracle.

    [Reply ]

      Re: Trade War Casualties
      Posted on: 2018-10-26 10:47:37   By: Anonymous
       
      Oblahma doubled the national debt, big hat no cattle.

      [Reply ]

        Re: Trade War Casualties
        Posted on: 2018-10-26 14:34:26   By: Anonymous
         
        Obama increased debt to save the economy. It worked. Trump increases the debt to make the very richer even richer. That also worked. But the latter is unforgivable.

        [Reply ]

          Re: Trade War Casualties
          Posted on: 2018-10-26 15:56:50   By: Anonymous
           
          The GDP and the Stock Market are two separate entities.

          Despite Obama's Marxist efforts to shrink the US economy, the Market never rose above 17,000 with a GDP growth of less than one percent.

          President Trump's genius and business smarts rose the Market to 27,000 and GDP to 3.2% growth.

          Amazing what a real intelligent patriot in the executive office can do.

          [Reply ]

            Re: Trade War Casualties
            Posted on: 2018-10-26 17:43:37   By: Anonymous
             
            Profanity

            [Reply ]

          Re: Trade War Casualties
          Posted on: 2018-10-27 12:05:16   By: Anonymous
           
          I CANNOT believe anyone would say anything sooooo stupid. Increased debt to save the economy? Try that in your household and see the consequences!!!!

          [Reply ]

No Subject
Posted on: 2018-10-26 14:35:12   By: Anonymous
 
Too bad the graph doesn't start at earlier years. Obama's numbers beat Trump's on several occasions.

[Reply ]

    Re:
    Posted on: 2018-10-26 15:51:31   By: Anonymous
     
    This graph is great.
    You actually can see the GDP degrade as Obama's policies brought down the economy.
    President Trump brought an immediate uptick in the economy ratings.

    [Reply ]

      Re:
      Posted on: 2018-10-26 21:38:52   By: Anonymous
       
      Yup.

      [Reply ]

Profanity
Posted on: 2018-10-26 17:42:42   By: Anonymous
 
Profanity

[Reply ]


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