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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (253389)	7/31/2003 4:26:35 PM
From: Haim R. Branisteanu	Read Replies (2) \| Respond to of 436258

WOW !!!! Spending on defense, much of it to support the war in Iraq, shot up at a 44.1 percent rate -- the strongest since 110 percent in the third quarter of 1951 -- after falling 3.3 percent in the first three months of the year. That accounted for much of the unexpected surge in GDP expansion.

To: yard_man who wrote (253389)	7/31/2003 4:33:31 PM
From: Jeff Jordan	Read Replies (1) \| Respond to of 436258

I was reading the balance statement for the Philly Fed that looked interesting to. -=-=-=-=-=- excepts:News Release: Gross Domestic Product The acceleration in real GDP growth in the second quarter primarily reflected upturns in federal defense spending and in nonresidential fixed investment, and an acceleration in PCE that were partly offset by an upturn in imports. The price index for gross domestic purchases, which measures prices paid by U.S. residents, increased 0.3 percent in the second quarter, compared with an increase of 3.4 percent in the first. Excluding food and energy prices, the price index for gross domestic purchases increased 0.7 percent in the second quarter, compared with an increase of 1.8 percent in the first. Real personal consumption expenditures increased 3.3 percent in the second quarter, compared with an increase of 2.0 percent in the first. Durable goods purchases increased 22.6 percent, in contrast to a decrease of 2.0 percent. Nondurable goods increased 0.1 percent, compared with an increase of 6.1 percent. Services expenditures increased 1.5 percent, compared with an increase of 0.9 percent. Real nonresidential fixed investment increased 6.9 percent in the second quarter, in contrast to a decrease of 4.4 percent in the first. Nonresidential structures increased 4.8 percent, in contrast to a decrease of 2.9 percent. Equipment and software increased 7.5 percent, in contrast to a decrease of 4.8 percent. Real residential fixed investment increased 6.0 percent, compared with an increase of 10.1 percent. Real exports of goods and services decreased 3.1 percent in the second quarter, compared with a decrease of 1.3 percent in the first. Real imports of goods and services increased 9.2 percent, in contrast to a decrease of 6.2 percent. Real federal government consumption expenditures and gross investment increased 25.1 percent in the second quarter, compared with an increase of 0.7 percent in the first. National defense increased 44.1 percent, in contrast to a decrease of 3.3 percent. Nondefense decreased 4.1 percent, in contrast to an increase of 8.4 percent. Real state and local government consumption expenditures and gross investment decreased 1.5 percent, in contrast to an increase of 0.2 percent. The real change in private inventories subtracted 0.77 percentage point from the second-quarter change in real GDP, after subtracting 0.82 percentage point from the first-quarter change. Private businesses reduced inventories $17.9 billion in the second quarter, following increases of $4.8 billion in the first quarter and $25.8 billion in the fourth. Real final sales of domestic product -- GDP less change in private inventories -- increased 3.2 percent in the second quarter, compared with an increase of 2.3 percent in the first. Gross domestic purchases Real gross domestic purchases -- purchases by U.S. residents of goods and services wherever produced -- increased 3.8 percent in the second quarter, compared with an increase of 0.6 percent in the first. Disposition of personal income Current-dollar personal income increased $74.4 billion (3.3 percent) in the second quarter, compared with an increase of $82.3 billion (3.7 percent) in the first. Personal tax and nontax payments increased $8.3 billion (3.1 percent), in contrast to a decrease of $12.9 billion (4.7 percent). Disposable personal income increased $66.1 billion in the second quarter, compared with an increase of $95.1 billion in the first. Real disposable personal income increased 2.4 percent, compared with an increase of 2.1 percent. Personal outlays increased $85.5 billion (4.5 percent) in the second quarter, compared with an increase of $86.9 billion (4.6 percent) in the first. Personal saving -- disposable personal income less personal outlays -- was $270.6 billion in the second quarter, compared with $290.0 billion in the first. The personal saving rate -- saving as a percentage of disposable personal income -- decreased from 3.6 percent in the first quarter to 3.3 percent in the second. Current-dollar GDP Current-dollar GDP -- the market value of the nation's output of goods and services -- increased 3.4 percent, or $88.9 billion, in the second quarter to a level of $10,777.3 billion. In the first quarter, current-dollar GDP increased 3.8 percent, or $99.6 billion. Here's the future<g> usajobs.opm.gov