GDP: Little Changed at 1.73%

by Rick Davis In their first revision to their estimate of the second quarter 2012 GDP, the Bureau of Economic Analysis (BEA) found that the annualized rate of U.S. domestic economic growth was 1.73%, up 0.19% from their initial estimate — but still down about a quarter of a percent from the 1.97% reported for …

2Q 2012 GDP: Economy Slowing

by Rick Davis In their first estimate of the second quarter 2012 GDP, the Bureau of Economic Analysis (BEA) found that the annualized rate of U.S. domestic economic growth was 1.54%, down nearly a half percent from the (revised) 1.97% for the prior quarter and down over two and a half percent from the (revised) …

1Q 2012 GDP: Minor Changes in Third Estimate

by Rick Davis In their third estimate of the first quarter 2012 GDP, the Bureau of Economic Analysis (BEA) left the annualized rate of U.S. domestic economic growth unchanged at 1.88%, which is still more than a percent below the growth rate for the fourth quarter of 2011. This revision to the prior month’s report …

Consumer Contribution to GDP is Fading

by Rick Davis We have often commented about the disparity between shrinking per capita disposable income (which is contracting at an annualized -0.22% rate) and the BEA’s reported growth in consumer spending (reportedly growing at an annualized +1.91% rate). Assuming for the moment that the consumer spending growth is real and not an artifact of …