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*DJ US 3Q GDP Revised To +2.0% Rate From +2.2% 12/21/2006 Dow Jones News Services (Copyright © 2006 Dow Jones & Company, Inc.) (MORE TO FOLLOW) Dow Jones Newswires 12-21-06 0830ET Copyright (c) 2006 Dow Jones & Company, Inc. *DJ US 3Q GDP Consensus +2.2% (MORE TO FOLLOW) Dow Jones Newswires 12-21-06 0830ET Copyright (c) 2006 Dow Jones & Company, Inc. *DJ 3Q Real Final Sales Revised To +1.9% Rate From +2.1% (MORE TO FOLLOW) Dow Jones Newswires 12-21-06 0830ET Copyright (c) 2006 Dow Jones & Company, Inc. *DJ 3Q PCE Price Index +2.4%, Unrevised From Prelim Report (MORE TO FOLLOW) Dow Jones Newswires 12-21-06 0830ET Copyright (c) 2006 Dow Jones & Company, Inc. *DJ 3Q Purchases Price Idx Revised To +2.2% Rate From +2.1% (MORE TO FOLLOW) Dow Jones Newswires 12-21-06 0830ET Copyright (c) 2006 Dow Jones & Company, Inc. *DJ 3Q Chain-Weighted Price Idx Revised To +1.9% From +1.8% (MORE TO FOLLOW) Dow Jones Newswires 12-21-06 0830ET Copyright (c) 2006 Dow Jones & Company, Inc. *DJ 3Q Corporate Profits +4.2% Vs +0.3% In 2Q (MORE TO FOLLOW) Dow Jones Newswires 12-21-06 0830ET Copyright (c) 2006 Dow Jones & Company, Inc. *DJ 3Q Corporate Profits Revised To +4.2% From +4.6% (MORE TO FOLLOW) Dow Jones Newswires 12-21-06 0830ET Copyright (c) 2006 Dow Jones & Company, Inc. =DJ DATA SNAP: US 3Q GDP Even Slower As Housing Slumps =================================================================== Gross Domestic Product 3Q 3Q 2Q ! Consensus: ! Overall GDP Growth +2.0% +2.2% +2.6% ! +2.2% ! PCE Price Index +2.4% +2.4% +4.0% ! Actual: ! ! +2.0% ! =================================================================== By Jeff Bater Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--The U.S. economy was a bit weaker last summer than earlier believed as the sharpest housing sector slump in 15 years took an even bigger toll on the slowest quarterly growth of 2006. Gross domestic product rose at a 2.0% annual rate July through September, revised down from a previous estimate a month ago of 2.2% for the third quarter, the Commerce Department said Thursday. The department said the revision to GDP, a measure of all goods and services produced in the economy, mainly reflected a downward adjustment to consumer spending. Another GDP component that was lowered was residential fixed investment, which plunged 18.7% in the third quarter instead of the previously reported 18.0%. Housing is bogging down the economy, which grew at a faster, 2.6% rate in the second quarter and 5.6% pace in the first three months of 2006. The 18.7% drop in residential fixed investment - the sharpest since a 21.7% drop in first-quarter 1991 - translated to a cut of 1.20 percentage points in third-quarter GDP; the estimate a month ago of an 18.0% decline had reduced GDP by 1.16 percentage points. Second-quarter residenital fixed investment dropped by 11.1%. Gauges measuring third-quarter inflation were either raised slightly or left alone, according to Thursday's data revisions. Corporate profits after taxes were revised lower. Wall Street had expected no revision to third-quarter GDP; the median estimate of 21 economists surveyed by Dow Jones Newswires was a 2.2% increase. The biggest component of GDP is consumer spending and it was revised lower. Third-quarter spending by consumers rose 2.8%, down from a previously reported 2.9% increase but above the second quarter's 2.6% advance. Consumer spending accounts for the lion's share of economic activity - about two-thirds. It contributed 1.96 percentage points to GDP in the third quarter; the previous estimate was a contribution of 1.99 percentage points. Services spending climbed 2.8%; previously, Commerce said services spending rose 3.1%. Consumer purchases of durable goods rose 6.4% in July through September, above the previously reported 6.0% increase. Durables dipped by 0.1% in the second quarter. Durable goods are expensive items designed to last at least three years, such as cars. Third-quarter non-durables spending increased by 1.5%. Businesses increased inventories by $55.4 billion in the third quarter; earlier, Commerce estimated a $58.0 billion increase. Companies had lifted stocks $53.7 billion in the second quarter. The accumulation of goods added 0.66 percentage point to third-quarter GDP. Previously, Commerce said inventories added 0.16 percentage point from GDP. Real final sales of domestic product, which is GDP less the change in private inventories, climbed 1.9%, below the earlier estimated 2.1% increase. Second-quarter sales rose 2.1%. International trade caused slightly less of a drag on GDP, as exports climbed more than earlier thought, according to the revised data. U.S. exports rose by 6.8%. Imports increased 5.6%. Originally, exports were seen up 6.3% and imports 5.3% higher. So, trade reduced GDP by 0.19 percentage point; previously, Commerce said trade cut third-quarter GDP by 0.21 percentage point. In the second quarter, exports had gone up by 6.2% and imports climbed 1.4%. Businesses increased third-quarter spending an unrevised 10.0%. Business spending rose 4.4% in the second quarter. Third-quarter investment in structures surged 15.7%. Equipment and software increased 7.7%. Federal government spending increased by 1.3%, revised down from a previously estimated 1.5% increase. Second-quarter spending fell 4.5%. State and local government outlays increased 1.9%. The government's price index for personal consumption increased at an unrevised 2.4%, which was below the second quarter's 4.0% rise. The PCE price gauge excluding food and energy increased at an unchanged 2.2%, below the second quarter's 2.7% rise. The price index for gross domestic purchases, which measures prices paid by U.S. residents, rose 2.2%, higher than the previously estimated 2.1% climb but well below the second quarter's 4.0% rise. The chain-weighted GDP price index rose 1.9%, higher than the previously estimated 1.8% climb but below the second quarter's 3.3% rise. Corporate profits climbed 4.2% to $1.163 trillion in July through September from the second quarter, the report showed. That was a revision down from an originally reported 4.6% increase. Profits in the second quarter increased 0.3%. Year over year, profits surged 31.0% since the third quarter of 2005. |
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| Autor (Datum des Eintrages): | nachtschatten (21.12.06 14:43:02) |
| Beitrag: | 126 von 157 (ID:26370772) |
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