Real gross domestic product (GDP) grew at an annual rate of 3.0 percent in the fourth quarter of 2011, according to today’s second estimate. This follows a growth rate of 1.8 percent in the third quarter of 2011. Real GDP increased 1.7 percent from 2010 to 2011 overall.
The December 2011 international trade deficit rose 3.7 percent from the prior month, to $48.8 billion. Exports increased 0.7 percent to $178.8 billion, and imports increased 1.3 percent, to $227.6 billion.
The 2011 international trade deficit increased 11.6 percent from 2010, to $558.0 billion. Exports rose 14.5 percent to $2,103.1 billion, and imports increased 13.8 percent to 2,661.1 billion.
Personal income in December 2011 rose 0.5 percent. Nominal personal consumption expenditures (PCE) was unchanged and real PCE declined 0.1 percent. Nominal disposable personal income (DPI) rose 0.4 percent and real DPI increased 0.3 percent. The personal saving rate as a percentage of DPI was 4.0 percent in December.
The November 2011 international trade deficit rose 10.4 percent, to $47.8 billion. Exports declined 0.9 percent, to $177.8 billion, and imports increased 1.3 percent, to $225.6 billion
