Third Quarter Real Annual GDP Growth Up 2%

Real GDP also increased, by $67.7 billion to $13.6 trillion. Nominal GDP increased $190 billion in the third quarter to $15.8 trillion. This is an increase of 1.2%. Influencing this increase were gains in personal expenditures and private investment. The value of exports and imports both fell, but exports fell less leading to a trade deficit decline. Federal spending fell slightly across all sectors, but state and local spending grew $1.3 billion, causing an overall increase in government expenditures and investment.

For more information, see our GDP report.

–From the St. Louis Federal Reserve and the Bureau of Economic Analysis

Corporate Profits as % of GDP

From Michael at “Power Line Is Wrong”, hard to refute the evidence that corporate America has figured out how to make money even though America hasn’t figured out how to be sustainable.

Graph shows US corporate profits as % of US GDP.

GDP and Trash Production Indicate Downturn Ahead

This graph shows the relationship between rail carloads of trash and GDP. It’s not a leading indicator, but seems to be a coincident indicator if not slightly trailing. The trash data includes all garbage–demolitions, home trash, industrial garbage, and most other waste. The great advantage is that rail car data comes out weekly, while GDP comes out one month after the quarter ends, so there is a substantial lag.

As can clearly be seen in the rail data, the change in trash loads has dropped nearly 30% with a similar degree of severity as the 2008 recession, which fell more than 40% at its peak. If this is any indication, the 2nd quarter GDP figures may be down.

–from FreeRepublic.com

Real US GDP Increased 2.2% Annual Rate in Q1

US GDP increased at a 2.2% annual rate in the first quarter of 2012. Nominal GDP increased $142.4 billion and Real GDP increased $73.4 billion. Personal consumption expenditures increased $68.1 billion, private domestic investment increased $27.3 billion, and government expenditures rose $20.4 billion. Mitigating these rises were a trade deficit increase of $37.3 billion and a continued slow of government investment which has slowed or decreased across all its forms–even defense investment has plateaued.

For more information see our GDP Report.

–from the Bureau of Economic Analysis, the St. Louis Federal Reserve, and CalculatedRisk

GDP Increased at Annual Rate of 3% in Fourth Quarter of 2011

US GDP increased at an annual rate of 3% according to the BEA’s 2nd 4th quarter GDP estimate. Nominal GDP is at $15.3 trillion and real GDP is at $13.4 trillion. Contributing to the increase is a rise in gross private domestic investment, personal consumption expenditures, and state and local gross investment. The rise was mitigated by an increased trade deficit and less federal spending both defense and non-defense. It appears that, at least for now, the private sector is capable of offsetting relatively flat federal spending.

For more information, see our GDP report.

–From the St. Louis Federal Reserve and the Bureau of Economic Analysis

Federal Taxes Minus Spending

This map shows which states pay the most in taxes and which states receive the most between 1990-2009 as a percentage of 2009 GDP. Delaware paid in the most relatively at twice its 2009 GDP.  Mississippi, West Virginia, and New Mexico all received more than 200% of their GDP in payments from the federal government.

-From the Economist

Trade Deficit Jumped 3.7% in December 2011

The US trade deficit increased $1.7 billion (3.7%) in December to -$48.8 billion. This is surprising, given the details from our major trade partners. Imports from China declined $4 billion (10.8%) to $32.8 billion while exports to China decreased by a much smaller $230 million to $9.7 billion. Imports from Canada increased $284.3 million to $26.5 billion while exports decreased $567.9 million to $22.7 billion. In other words, our biggest trading partners had an enormous decrease combined, yet the deficit still increased. The biggest percent change came from exports to Japan, which droped $655.9 million, or 10.8%, to $5.4 billion.

–From the St. Louis Federal Reserve and the Bureau of Economic Analysis

4th Quarter 2011 GDP Increased 2.8% at Annualized Rate

4th quarter 2011 real GDP increased at an annual rate of 2.8%. This comes from an increase in private investments and a decrease in federal, state, and local spending along with an increased trade deficit. In other words, private spending is up, government spending is down, and imports are up. Real GDP increased $90.8 billion to $13.4 trillion and nominal GDP increased $118.2 billion to  $15.3 trillion. For more information, see our GDP Report.

–From the St. Louis Federal Reserve and the Bureau of Economic Analysis

US Trade Deficit Increased 10% in November 2011

The November 2011 US trade deficit increased $4.5 billion, or 10%, to $47.8 billion. Strongly influencing this figure were large shifts in the trade balances of China and Canada. Imports from China are down $1 billion while exports to China increased $200 million to $9.9 billion. Imports from Canada decreased $506 million to $26.3 billion and exports decreased $1.3 billion, or 5.1%, to $23.3 billion. An increased trade deficit negatively impacts GDP, so 4th quarter 2011 GDP figures, due at the end of this month, will likely be impacted by this large increase.

-From the St. Louis Federal Reserve