US GDP Q2 Growth Highest in Almost 4 Years
The US economy advanced an annualized 4.1 percent on quarter in the second quarter of 2018, well above an upwardly revised 2.2 percent expansion in the previous period and in line with market expectations.
Vanguard Economic Market Outlook 2019: Down but Not Out
As the global economy enters its tenth year of expansion following the global financial crisis, concerns are growing that a recession may be imminent, and although several factors will raise the risk of recession in 2019, a slowdown in growth…
- 2017 Global Citizenship Report
- World Economic Outlook 2017 Update
- America’s Advanced Industries: What They Are, Where They Are,…
- Beyond Shovel-Ready: The Extent and Impact of U.S. Infrastructure…
- All Resources
Amber Road provides a single, on-demand platform that automates and streamlines global trade. By helping organizations to comply with country-specific trade regulations, as well as plan, execute and track global shipments, Amber Road enables goods to flow unimpeded across international borders in…
Purolator International is a leading U.S. based supply chain logistics solutions provider specializing in the air and ground forwarding of express, freight and parcel shipments, customs brokerage, and fulfillment and delivery services to, from and within North America. We are a subsidiary of Purolator…
- Company Quicklook
Personal consumption expenditure (PCE) contributed 2.69 percentage points to growth (0.36 percentage points in the first quarter) and rose 4 percent (0.5 percent in the first quarter).
Spending of durable goods rebounded (9.3 percent compared to -2 percent) and rose faster for nondurable goods (4.2 percent compared to 0.1 percent) and services (3.1 percent compared to 1 percent).
Fixed investment added 0.94 percentage points to growth (1.34 percentage points in the first quarter) and increased 5.4 percent (8 percent in the first quarter).
Investment rose less for equipment (3.9 percent compared to 8.5 percent), intellectual property products (8.2 percent compared to 14.1 percent) and structures (13.3 percent compared to 13.9 percent) and continued to fall for residential (-1.1 percent compared to a -3.4 percent).
The contribution from private inventories was negative (-1 percent), compared to +0.27 in the first quarter.
Meanwhile, exports jumped 9.3 percent (3.6 percent in the previous quarter) and imports rose at a much slower pace (0.5 percent compared to 3 percent). As a result, the impact from trade was 1.06 percent, much better than -0.02 percent in the first quarter and the highest contribution since the last three months of 2013.
Government spending and investment added 0.37 percentage points to growth, slightly higher than 0.27 percentage points in the first quarter. It increased 2.1 percent, above 1.5 percent in the previous quarter.
GDP growth figures for the previous years were revised due to comprehensive updates of the National Income and Product Accounts (NIPAs), which are carried out about every five years.
The updates incorporate newly available and more comprehensive source data, as well as improved estimation methodologies. The GDP growth for 2017 was revised slightly lower to 2.2 percent from 2.3 percent.
Related White Papers
Seven Steps to Export Success
This new white paper from Purolator International, “Seven Steps to Export Success: Top Considerations before reaching out to International Markets,” provides an overview of these and other critical export issues. Download Now!
Three Strategies for Proactive Compliance by Automating Export Controls
Solutions for university export control and compliance officers, legal counsel and research administrators. Download Now!