The Philly Fed Survey current business activity index plunged -30.7% for August. The below graph is the Philadelphia Fed Current Business Activity Index against Industrial Production, the national manufacturing and output indicator, released by the Fed.
Q1 GDP 2011 came in at 1.9% for the third revision, one tenth of a percentage point higher than the second revision. Here is the original BEA GDP report.
Q1 GDP 2011 came in at 1.8% for the second revision, same as the advance report. Here is the original BEA GDP report.
The decrease of Q1 GDP growth is once again, due to the never ending increasing trade deficit, a slow down in personal consumption and a drop in government spending.
Q4 GDP 2010 was revised up to 3.1%. The 2nd revision was 2.8%, and the Q4 advance estimate was 3.2%. The strong upward revision to 3.1% is a result of a revision reduction in the negative GDP contribution changes in private inventories made and a upward revision in nonresidential investment. Here are the BEA GDP releases and website.
Q4 GDP 2010 was revised down to 2.8%, from the 3.2% advance report. The strong downward revision is a result of more imports coming into the U.S. than originally estimated, a reduction in government expenditures and a smaller reduction in personal consumption expenditures. Here is the original BEA GDP release.
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