by sslifer | Jul 25, 2024 | GDP, NumberNomics Notes
July 25, 2024 . The advance estimate of second quarter GDP growth was 2.8% compared to GDP growth of 1.4% in the first quarter. The second quarter reading was slightly higher than the consensus forecast of 2.5%. Final sales, which is GDP excluding the change in...
by sslifer | Jul 25, 2024 | GDP, NumberNomics Notes
July 25, 2024 When the economy is slowing down, firms will accumulate unwanted inventories. Those inventories still show up in GDP, but they are unsold. Hence, GDP will be biased upwards. Similarly, in good times businesses will reduce inventory levels to satisfy...
by sslifer | Jul 25, 2024 | GDP, NumberNomics Notes
July 25, 2024 It is important to remember that final sales is a measure of how many domestically produced goods are sold each quarter. But we also sell goods overseas — our exports. And we purchase goods from other countries — our imports. In the...
by sslifer | Jul 25, 2024 | GDP, Inflation, NumberNomics Notes
July 25, 2024 There are many different deflators that are available. This one is for gross domestic purchases which measures prices paid by U.S. residents. It is the one measure of inflation that the Commerce Department talks about when it releases the GDP report. ...
by sslifer | Jul 25, 2024 | Industrial Production, NumberNomics Notes
July 25, 2034 Durable goods orders fell a sizeable 6.6% in June after having risen 0.1% in May. The decline was attributable to the very volatile transportation sector, non-defense aircraft in particular. With this latest decline durable goods orders have fallen...
Follow Me