FOR WIRE TRANSMISSION: 8:30 A.M. EDT, WEDNESDAY, AUGUST 29, 2001
Virginia H. Mannering: (202) 606-5304 (GDP) BEA 01-25
Kenneth A. Petrick: 606-9738 (Profits)
Recorded message: 606-5306
GROSS DOMESTIC PRODUCT: SECOND QUARTER 2001 (PRELIMINARY)
CORPORATE PROFITS: SECOND QUARTER 2001 (PRELIMINARY)
Real gross domestic product -- the output of goods and services produced by labor and property
located in the United States -- increased at an annual rate of 0.2 percent in the second quarter of 2001,
according to preliminary estimates released by the Bureau of Economic Analysis. In the first quarter, real
GDP increased 1.3 percent.
The GDP estimates released today are based on more complete source data than were available for
the advance estimates issued last month. In the advance estimates, the increase in real GDP was 0.7
percent (see "Revisions" on page 3).
The major contributors to the increase in real GDP in the second quarter were: Personal
consumption expenditures (PCE), state and local government spending, and residential fixed investment.
The contributions of these components were partly offset by decreases in equipment and software, in
exports, in nonresidential structures, and in private inventory investment. Imports, which are a
subtraction in the calculation of GDP, decreased.
The deceleration in real GDP growth in the second quarter reflected larger decreases in exports and
in equipment and software, a downturn in nonresidential structures, and a deceleration in PCE that were
partly offset by a smaller decrease in private inventory investment. There was also a larger decrease in
imports in the second quarter than in the first.
Alles fidnet ihr unter:
www.bea.doc.gov/bea/newsrel/gdp201p.htm
MaMoe.
Virginia H. Mannering: (202) 606-5304 (GDP) BEA 01-25
Kenneth A. Petrick: 606-9738 (Profits)
Recorded message: 606-5306
GROSS DOMESTIC PRODUCT: SECOND QUARTER 2001 (PRELIMINARY)
CORPORATE PROFITS: SECOND QUARTER 2001 (PRELIMINARY)
Real gross domestic product -- the output of goods and services produced by labor and property
located in the United States -- increased at an annual rate of 0.2 percent in the second quarter of 2001,
according to preliminary estimates released by the Bureau of Economic Analysis. In the first quarter, real
GDP increased 1.3 percent.
The GDP estimates released today are based on more complete source data than were available for
the advance estimates issued last month. In the advance estimates, the increase in real GDP was 0.7
percent (see "Revisions" on page 3).
The major contributors to the increase in real GDP in the second quarter were: Personal
consumption expenditures (PCE), state and local government spending, and residential fixed investment.
The contributions of these components were partly offset by decreases in equipment and software, in
exports, in nonresidential structures, and in private inventory investment. Imports, which are a
subtraction in the calculation of GDP, decreased.
The deceleration in real GDP growth in the second quarter reflected larger decreases in exports and
in equipment and software, a downturn in nonresidential structures, and a deceleration in PCE that were
partly offset by a smaller decrease in private inventory investment. There was also a larger decrease in
imports in the second quarter than in the first.
Alles fidnet ihr unter:
www.bea.doc.gov/bea/newsrel/gdp201p.htm
MaMoe.
