Economic Indicator: A Look at Personal Income in 2010-11
Personal income ended the year on a positive note-increasing 0.5 percent in December, its largest gain since February 2011.
Statement from U.S. Commerce Department Chief Economist Mark Doms on Personal Income and Outlays in December 2011
WASHINGTON - The U.S. Commerce Department’s Bureau of Economic Analysis today released data on personal income and outlays for December 2011. Personal income rose 0.5 percent in December, significantly higher than the 0.1 percent rise in November and exceeding private-sector forecasts of a 0.4 percent increase. Wages and salaries accounted for nearly half the increase with other components rising as well. Real consumer spending edged down 0.1% in December.
Statement from U.S. Commerce Secretary John Bryson on the Advance Estimate of Gross Domestic Product in the Fourth Quarter 2011
The U.S. Commerce Department’s Bureau of Economic Analysis today released the advance estimate of gross domestic product (GDP) for the fourth quarter of 2011. Real GDP rose 2.8 percent at an annual rate, up from 1.8 percent in the third quarter. Real GDP for 2011 overall grew 1.7 percent. The increase in real GDP reflected growth across several key economic sectors. Real exports of goods and services increased 4.7 percent in the fourth quarter, the same increase as in the third.
Statement from U.S. Commerce Secretary John Bryson on U.S. International Trade in Goods and Services in November 2011
WASHINGTON – U.S. Secretary of Commerce John E. Bryson issued the statement below on the release of the November 2011 U.S. International Trade in Goods and Services report by the Commerce Department’s U.S. Census Bureau and the U.S. Bureau of Economic Analysis. Today’s report showed that U.S. exports of goods and services in November 2011 decreased 0.9 percent from October 2011 to $177.8 billion, with this month’s exports of consumer goods ($15.7 billion) the highest on record. U.S. imports of goods and services increased by 1.3 percent to reach $225.6 billion, causing the U.S. trade deficit to increase by 10.4 percent to reach $47.8 billion in November 2011. Petroleum imports increased 31 percent, while crude oil imports rose by 6.5 percent.
Statement from U.S. Commerce Secretary John Bryson on Retail Sales in 2011
WASHINGTON – The Commerce Department’s U.S. Census Bureau today released retail sales data for December and full year 2011. The data reflects strong growth last year, compared to 2010, increasing 7.7 percent. Excluding automobiles, full year 2011 retail sales grew 7.3 percent.
In the month of December 2011, retail sales increased 0.1 percent from November and 6.5 percent from December 2010. Excluding autos, December 2011 sales declined 0.2 percent from November but grew 6.0 percent from December 2010.
