Key Economic Indicators
Personal income increased $50.2 billion (0.3 percent) in December according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $43.6 billion (0.3 percent) and personal consumption expenditures (PCE) increased $63.1 billion (0.5 percent).
Real gross domestic product (GDP) increased at an annual rate of 1.9 percent in the fourth quarter of 2016 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.5 percent.
Total construction activity for December 2016 ($1,181.5 billion) was 0.2 percent (+/-1.0%)* below the revised November 2016 ($1,184.4 billion).
December 2016: -0.2* % change
November 2016 (r): +0.9* % change
The rental vacancy rate in the fourth quarter 2016, 6.9 percent, was not statistically different from the fourth quarter 2015 rate of 7.0 percent. The rental vacancy rate in the West was lower than the rate in the fourth quarter 2015, while the rates in the Northeast, Midwest and South were not statistically different from the rates in the fourth quarter 2015.
4th Qtr 2016: +6.9* percent
4th Qtr 2015: +7.0 percent
The homeownership rate in the fourth quarter 2016, 63.7 percent, was not statistically different from the fourth quarter 2015 rate of 63.8 percent. The homeownership rate in the Northeast was lower than the fourth quarter 2015 rate, while the rates in the Midwest, South and West were not statistically different from the rates in the fourth quarter 2015.
4th Qtr 2016: +63.7* percent
4th Qtr 2015: +63.8 percent
New orders for manufactured durable goods in December decreased $1.0 billion or 0.4 percent to $227.0 billion.
December 2016: -0.4° % change
November 2016 (r): -4.8° % change
Sales of new single-family houses in December 2016 were at a seasonally adjusted annual rate of 536,000. This is 10.4 percent (+/- 12.2%)* below the revised November 2016 estimate of 598,000.
December 2016: -10.4* % change
November 2016 (r): +4.7* % change
The advance international trade deficit in goods decreased to $65.0 billion in December from $65.3 billion in November as exports increased more than imports.
December 2016: 65.0° $ billion
November 2016: 65.3° $ billion
December end-of-month inventories were $601.1 billion, up 1.0 percent (+/- 0.4 percent) from last month.
December 2016: +1.0 % change in Inventories
November 2016 (r): +1.0 % change in Inventories
December 2016 end-of-month inventories were $608.3 billion, virtually unchanged (+/- 0.2%)* from last month.
December 2016: 0.0* % change in Inventories
November 2016 (r): +0.8 % change in Inventories
Privately-owned housing starts in December 2016 were at a seasonally adjusted annual rate of 1,226,000. This is 11.3 percent (+/- 10.4%) above the revised November 2016 estimate of 1,102,000.
December 2016: +11.3 % change
November 2016 (r): -16.5 % change
U.S. total business end-of-month inventories for November 2016 were $1,827.5 billion, up 0.7 percent (+/- 0.1 percent) from last month. U.S. total business sales were $1,326.7 billion, up 0.1 percent (+/-0.2 percent)* from last month.
November 2016: +0.7 % change in Inventories
October 2016 (r): -0.1* % change in Inventories
U.S. retail and food services sales for December were $469.1 billion, an increase of 0.6 percent (+/-0.5%) from the previous month.
December 2016: +0.6 % change
November 2016 (r): +0.2* % change
November 2016 sales of merchant wholesalers were $452.6 billion, up 0.4 percent (+/- 0.5 percent)* from last month. End-of-month inventories were $595.3 billion, up 1.0 percent (+/- 0.2 percent) from last month.
November 2016: +1.0 % change in Inventories
October 2016 (r): -0.1* % change in Inventories
New orders for manufactured goods in November decreased $11.3 billion or 2.4 percent to $458.3 billion.
November 2016: -2.4° % change
October 2016 (r): +2.8° % change
The Nation's international trade deficit in goods and services increased to $45.2 billion in November from $42.4 billion in October (revised), as exports decreased and imports increased.
November 2016: 45.2° $ billion
October 2016 (r): 42.4° $ billion
The estimate of U.S. selected services total revenue for the third calendar quarter of 2016, not adjusted for seasonal variation or for price changes, was $3,512.5 billion, an increase of 1.6 percent (+/- 0.2%) from the second quarter of 2016 and up 5.3 percent (+/- 0.6%) from the third quarter of 2015. The first quarter of 2016 to second quarter of 2016 percentage change was not revised from 3.4 percent (+/- 0.4%).
3rd Qtr 2016: +1.6 % change
2nd Qtr 2016: +3.4 % change
Quarterly Financial Report - Manufacturing, Mining, Wholesale Trade, and Selected Service Industries
Manufacturing corporations' seasonally adjusted after-tax profits were $138.3 billion for the third quarter of 2016, up $8.3 (+/- 0.3) billion from second quarter of 2016.
3rd Qtr 2016: +8.3 $ billion
2nd Qtr 2016 (r): +7.4 $ billion
Seasonally adjusted after-tax profits for retail corporations with assets of $50 million and over were $23.9 billion for the third quarter 2016 (the 3 months ending October 31, 2016), up $0.6 (+/- 0.1) billion from second quarter 2016 (the 3 months ending July 31, 2016).
3rd Qtr 2016: +0.6 $ billion
2nd Qtr 2016 (r): +3.1 $ billion
