BEA

Output growth in America during the first quarter of 2019 was downwardly revised by the Bureau of Economic Analysis in their second estimate of the period’s Gross Domestic Product.  After more data were collected, output is estimated to have grown 3.1 percent on an annualized basis, down from 3.2 percent in the first iteration.

More data regarding America’s economic output were collected and tallied up by the Bureau of Economic Analysis, providing a fuller look at our nation’s gross domestic product.  Unfortunately, the fuller picture suggests additional slowing took place in the final quarter of last year than first thought.  On a seasonally adjusted, annualized basis, output grew 2.2 percent, r

Echoes from the partial government shutdown persist.  Income and outlays data from the Bureau of Economic Analysis were delayed for December and incomplete for January, so they were released together in one report.  We have both income and spending to end the year, but just income data to start 2019.

America’s trade deficit continued growing in October 2018 according to data from the Bureau of Economic Analysis.  The most recent deficit grew to $55.5 billion from the upwardly revised count of $54.6 (originally $54.0 billion).  In the period, exports declined $300 million while imports increased $600 million, causing the shortfall to reach a 10-year high.

When it comes to the American economy, the consumer is the primary driver.  In order for consumers to push output ahead, they need income to spend.

After poring over more complete data, the Bureau of Economic Analysis made a slight adjustment to their initial estimate of gross domestic product (GDP) in the second quarter of 2018.  Initially reported as +4.1 percent on an annualized inflation-adjusted basis, they now believe output grew 4.2 percent.  This revised tally will get one more adjustment in a final revision due out later