US GDP growth for 3Q2011
Total 2.5%
Overall, 3Q GDP growth rate is almost double 2Q GDP rate and US GDP growth appears to be on the uptrend, again.
By Components
1) Private Consumption Expenditure (PCE)..................1.72%
2) Gross Private Domestic Investments (GPDI).............0.52%
3) Net Export of Goods & Services (NEGS)..................0.22%
4) Government consumption expenditures and................0.0%gross investment (GCE &GI)
PCE
The Good news is that it is PCE i.e. Consumers that is driving growth.
Consumer driven growth is good not just for the US but also for those that trade with the US.
Within PCE, Durable Goods contributed 0.35% and Services was the star with 1.38%.
GPDI
Within GPDI, FI (Fixed Investments) at 1.60% more than offset declines in PI (Private Inventories) -ve 1.08%.
Non Residential was the star contributing 1.54%, with Residential showing a meek 0.05% out of the 1.60%
GCE &GI
Net spends of 0.6% by the Federal Govt was offset by 0.6% shrinkage by Local Govts
Real DPI (disposable personal income) decreased 1.7 % (vs an increase of 0.6 % in 2nd Q)
% PS (personal saving rate -- saving as a percentage of disposable personal income) was 4.1
% in 3Q (vs 5.1% in 2Q).
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