Home / Knowledge / News / Textiles / US real GDP rises 4.1% in Q2 2018

US real GDP rises 4.1% in Q2 2018

30
Jul '18
Courtesy: Burak Kebapci from Pexels
Courtesy: Burak Kebapci from Pexels
The US real gross domestic product increased at an annual rate of 4.1 per cent in the second quarter (Q2) of 2018, according to the ‘advance’ estimate released by the Bureau of Economic Analysis. Imports, which are a subtraction in the calculation of GDP, also increased. In the first quarter, real GDP increased 2.2 per cent, as per the revised estimate.
 
The increase in real GDP in the Q2 reflected positive contributions from personal consumption expenditures (PCE), exports, non-residential fixed investment, federal government spending, and state and local government spending that were partly offset by negative contributions from private inventory investment and residential fixed investment.
 
Current-dollar GDP increased 7.4 per cent, or $361.5 billion, in the second quarter to a level of $20.4 trillion. In comparison, current-dollar GDP increased 4.3 per cent, or $209.2 billion in the first quarter.
 
The price index for gross domestic purchases increased 2.3 per cent in the second quarter, compared with an increase of 2.5 per cent in the first quarter. The PCE price index increased 1.8 per cent, compared with an increase of 2.5 per cent. Excluding food and energy prices, the PCE price index increased 2.0 per cent, compared with an increase of 2.2 per cent.
 
Current-dollar personal income increased $183.7 billion in the second quarter, compared with an increase of $215.8 billion in the first quarter. Decelerations in wages and salaries, government social benefits, personal interest income, and non-farm proprietors’ income were partly offset by accelerations in personal dividend income and rental income, a deceleration in contributions for government social insurance (a subtraction in the calculation of personal income), and an upturn in farm proprietors’ income.
 
Meanwhile, disposable personal income increased $167.5 billion, or 4.5 per cent, in the second quarter, compared with an increase of $256.7 billion, or 7.0 per cent, in the first quarter. Real disposable personal income increased 2.6 per cent, compared with an increase of 4.4 per cent.
 
Personal saving was $1,051.1 billion in the second quarter, compared with $1094.1 billion in the first quarter. The personal saving rate, i.e. personal saving as a percentage of disposable personal income, was 6.8 per cent in the second quarter, compared with 7.2 per cent in the first quarter.
 
The Bureau, however, emphasised that the second-quarter advance estimate is based on source data that are incomplete or subject to further revision by the source agency. The ‘second’ estimate for the second quarter, based on more complete data, will be released on August 29, 2018.
 
The estimates also reflect the results of the 15th comprehensive update of the National Income and Product Accounts (NIPAs). (RKS)
 

Fibre2Fashion News Desk – India


Must ReadView All

'Knitting machines can be used for various applications'

Textiles | On 21st Aug 2018

'Knitting machines can be used for various applications'

Flat knitting machines have the potential of being used for a number...

Courtesy: Invista

Textiles | On 21st Aug 2018

Fujian Petrochemicals to use Invista's P8 PTA technology

Invista’s technology and licensing group, Invista Performance...

Indian team finds way to cut water use in textile industry

Textiles | On 21st Aug 2018

Indian team finds way to cut water use in textile industry

Researchers at the department of chemistry in Calicut University in...

Interviews View All

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Ashish M Amin

Premier Looms is a leading provider of cutting-edge machinery and...

Pierre Wiertz
EDANA

EDANA, the international association serving the nonwovens and related...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


August 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search