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Statement from U.S. Commerce Department Chief Economist Mark Doms on Personal Income and Outlays in May 2011

WASHINGTON – The U.S. Commerce Department’s Bureau of Economic Analysis today released data on personal income and outlays for May 2011. Personal income rose 0.3 percent in May, slightly below private-sector forecasts of a 0.4-percent increase. Wages and salaries, the largest component of income, rose 0.2 percent, supported by a gain in hourly earnings. Real consumer spending declined 0.1 percent, compared to private-sector expectations of a 0.1-percent increase, pulled down by a drop in motor vehicle purchases partly attributable to supply disruptions from the tsunami in Japan.

New Commerce Department Report Shows Foreign Direct Investment Supports Millions of High-Paying Jobs; Since 2000, FDI has Supported More Than 5 Million Jobs at 30% Higher Wages

WASHINGTON – The U.S. Department of Commerce’s Economics and Statistics Administration (ESA) today reported that foreign direct investment (FDI) in the United States over the past decade has supported more than 5 million U.S. jobs that, on average, paid 30 percent more than other jobs. The findings, presented in a new ESA report entitled “Foreign Direct Investment in the United States,” point the way toward policies that could expand the number of foreign partners investing in the United States and, in so doing, create more high-paying U.S. jobs.

Statement from U.S. Commerce Secretary Gary Locke on New Residential Construction in May 2011

WASHINGTON – The Commerce Department’s U.S. Census Bureau today released data on new residential construction for May 2011. Permits for new housing units jumped 8.7 percent in May. Private-sector analysts had expected a 0.7 percent decline. Housing starts advanced 3.5 percent in May. Private-sector analysts had expected a 4.8 percent increase. Both permits and starts in April were revised up.

New Commerce Department Report Shows Foreign Direct Investment:Since 2000, FDI has Supported More Than 5 Million Jobs at 30% Higher Wages

WASHINGTON, D.C. – The U.S. Department of Commerce’s Economics and Statistics Administration (ESA) today reported that foreign direct investment (FDI) in the United States over the past decade has supported more than 5 million U.S. jobs that, on average, paid 30 percent more than other jobs. The findings, presented in a new ESA report entitled “Foreign Direct Investment in the United States,” point the way toward policies that could expand the number of foreign partners investing in the United States and, in so doing, create more high-paying U.S. jobs.

Statement from U.S. Commerce Secretary Gary Locke on April 2011 U.S. International Trade in Goods and Services

WASHINGTON – U.S. Commerce Secretary Gary Locke issued the following statement today on the release of the April 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 April 2011 increased 1.3 percent from March 2011 to a record $175.6 billion, with record exports of both goods ($126.4 billion) and services ($49.1 billion). The monthly export values for U.S.

Statement from U.S. Commerce Department Acting Deputy Secretary Rebecca Blank on Personal Income and Outlays in April 2011

The U.S. Commerce Department’s Bureau of Economic Analysis today released data on personal income and outlays for April 2011. Personal income increased 0.4 percent in April, consistent with private-sector expectations. Wages and salaries, the largest component of income, rose a solid 0.4 percent, supported by improvements in the labor market. Real consumer spending rose 0.1 percent in April and is up 1.0 percent at an annual rate above its first-quarter average.

Statement from U.S. Commerce Department Chief Economist Mark Doms on the Second Estimate of Gross Domestic Product for the First Quarter

WASHINGTON - The U.S. Commerce Department’s Bureau of Economic Analysis today released the second estimate of gross domestic product (GDP) for the first quarter of 2011. Real GDP grew 1.8 percent at an annual rate in the first quarter, unchanged from last month’s advance report and slightly below private-sector expectations of an upward revision. Corporate profits grew by $21.9 billion in the first quarter of 2011 to a level of $1,700.2 billion.

Statement from U.S. Commerce Secretary Gary Locke on Retail Sales in April 2011

WASHINGTON – The Commerce Department’s U.S. Census Bureau today released retail sales data for April 2011. Retail sales rose 0.5 percent, slightly lower than private-sector expectations, though sales for February and March were revised significantly upward. Retail sales excluding motor vehicles rose 0.6 percent, consistent with private-sector expectations. Motor vehicle sales in April increased 0.2 percent, and sales at gasoline stations jumped 2.7 percent. Sales excluding those at motor vehicle and parts dealers and gasoline stations rose 0.2 percent.

New Commerce Department Report Shows Record Services Trade Surplus that Continues to Grow

WASHINGTON, D.C. – The U.S. Department of Commerce’s Economics and Statistics Administration (ESA) today released a report showing U.S. trade in private services totaled $526.6 billion in 2010, representing a trade surplus that is growing, rising from $66.7 billion in 2003 to $168 billion in 2010.

Deputy Under Secretary Nancy Potok Receives Distinguished Public Service Award

WASHINGTON, April 29, 2011 – Deputy Under Secretary Nancy Potok received the Distinguished Public Service Award from the George Washington University Chapter of Pi Alpha Alpha, a national honor society formed to encourage and recognize outstanding scholarship and accomplishment in public affairs and administration. Established in 1974, Pi Alpha Alpha and its more than 39,000 members seek to advance the ideals of integrity, professionalism, and creative performance in public service. The award ceremony was preceded by an induction dinner for new members of the chapter, where Dr.

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