Final Sales

February 25, 2021 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...

Final Sales to Domestic Purchasers

February 25, 2021 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...

Gross Domestic Purchases Deflator

February 25, 2021 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...

Initial Unemployment Claims

February 25, 2021 Initial unemployment claims for the week of February 20 declined by 111 thousand to 739thousand after having fallen 7 thousand in the previous week.  After reaching a peak of 6,867 thousand at the end of March initial claims had been steadily...

New Home Sales

February 24, 2021 New home sales rose 4.3% in January to 923 thousand after having risen 5.5% in December after having declined 13.1% in November.  The November drop in sales may have been partially caused by the rapid spread of the virus which discouraged potential...

Gasoline Prices

February 24, 2021 Gasoline prices at the retail level rose $0.13 in the week ending February 22 to $2.63 per gallon.  In South Carolina gasoline prices tend to about $0.25 below the national average or about $2.38.  The EIA expect gasoline prices to average $2.40 per...