Posted on 05/29/2003 5:46:36 AM PDT by Starwind
US Q1'03 GDP rev to +1.9 pct Thursday May 29, 8:31 am ET
WASHINGTON, May 29 (Reuters) - Commerce Department
seasonally adjusted Gross Domestic Product data on a
chain-weighted basis.
Following are annualized percent changes from prior quarters,
in 1996 chain dollars.
Q1-P Q1-A Q4 2002
GDP 1.9 1.6 1.4 2.4
Final Sales of
Dom. Product 2.4 2.1 1.1 1.8
Final Sales to
Dom. Buyers 1.4 1.2 2.6 2.4
GDP price index 2.5 2.5 1.8 1.1
PCE price index 2.7 2.8 1.8 1.4
Core PCE price index 0.8 0.9 1.5 1.7
Implicit Deflator 2.5 2.5 1.8 1.1
Consumer Spending 2.0 1.4 1.7 3.1
Durable Goods -1.8 -1.1 -8.2 7.3
NonDurable Goods 6.4 4.2 5.1 3.2
Services 0.7 0.5 2.2 2.2
Business Investment -4.8 -4.2 2.3 -5.7
Structures 0.4 -3.4 -9.9 -16.4
Equipment/software -6.3 -4.4 6.2 -1.7
Housing Investment 11.0 12.0 9.4 3.9
Exports -1.4 -3.2 -5.8 -1.6
Imports -7.1 -7.9 7.4 3.7
Government Purchases 0.3 0.9 4.6 4.4
Federal 0.9 2.6 11.0 7.5
State and Local -0.1 -0.1 1.2 2.8
A-Advance (1st estimate). P-Preliminary (2nd). F-final (3rd.)
Seasonally adjusted annual rates, in blns of '96 chain dlrs:
Q1-P Q1-A Q4 2002
GDP 9,562.9 9,556.0 9,518.2 9,439.9
Final Sales of
Dom.Product 9,539.1 9,532.1 9,483.1 9,424.4
Final Sales of
Dom. Buyers 10,004.6 9,998.8 9,970.1 9,874.1
Consumer Spending 6,671.6 6,660.5 6,637.9 6,576.0
Durable Goods 1,006.0 1,007.7 1,010.6 999.9
NonDurable Goods 1,980.3 1,969.9 1,950.0 1,929.5
Services 3,713.8 3,711.8 3,707.0 3,675.6
Business Investment 1,170.8 1,172.7 1,185.3 1,183.4
Structures 212.7 210.7 212.6 226.4
Equipment/software 976.0 980.9 992.1 971.1
Housing Investment 406.4 407.3 395.9 388.2
Business Inventory Change 13.2 12.8 25.8 5.2
Farm 1.4 2.3 -0.8 1.1
Net Exports Goods/Svcs -506.9 -508.2 -532.2 -488.5
Exports 1,057.9 1,053.0 1,061.6 1,058.8
Imports 1,564.8 1,561.3 1,593.8 1,547.4
Govt. Purchases 1,736.2 1,738.8 1,735.0 1,712.8
Federal 632.8 635.5 631.4 613.3
State and Local 1,103.8 1,103.8 1,104.0 1,099.7
A-Advance (1st estimate). P-Preliminary (2nd). F-final (3rd).
FORECASTS:
Reuters survey of U.S. economists' forecast for Preliminary
Q1 GDP:
+1.9 pct for GDP
+2.5 pct for Implicit Deflator
HISTORICALS/NOTES:
The personal consumption expenditures (PCE) price index is
an inflation gauge for consumer purchases that is closely
watched by the U.S. Federal Reserve. The core PCE price index
excludes the volatile food and energy components.Just for fun:
8:36AM: S&P futures vs fair value: +1.8. Nasdaq futures vs fair value: +4.0. Futures trade edges higher on the heels of the in line Q1 preliminary GDP number, as well as the roughly in line jobless claims report for the week of May 24... As such, the equity market is set to open higher, underpinned by positive momentum from the indices' recent winning streak.
Not only will the tax refund checks start hitting but the next 401K reports should show a sizable gain....eat my shorts dems.
Richard W.
Daschle is deeply saddened.
FWIW, watching the volume on the DJIA, I don't see anything more than the slightly below average volume we've seen for weeks, except for MSFT, C, & INTC. Total volume on NYSE looks average and NASDAQ looks maybe above average.
If State Pensions were buying, I'd expect heavier volume, so I dunno.
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