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Blog Category: Analysis

Report on Gross Domestic Product Statistics for Four U.S. Territories Released

Click for larger image. Pictured: Nikolao Pula, Director of the Office of Insular Affairs, U.S. Department of the Interior; Kiran Ahuja, Executive Director of the White House Initiative on Asian Americans and Pacific Islanders; Pictured: Rebecca M Blank, Under Secretary for Economic Affairs, U.S. Department of Commerce;  Rep. Gregorio Kilili Camacho, Northern Mariana Islands; Rep. Madeleine Bordallo, Guam; Rep. Eni Faleomavaega, America Samoa; Rep. Donna Christensen, Virgin Islands; Steve Landefeld, Director of the Bureau of Economic Analysis, U.S. Department of Commerce.

The U.S. Department of Commerce released newly-developed Gross Domestic Product (GDP) statistics for American Samoa, Guam, the Commonwealth of the Northern Mariana Islands and the U.S. Virgin Islands. The statistics are a product of a joint effort of the Department of Commerce’s Bureau of Economic Analysis and the Interior Department’s Office of Insular Affairs. Policy makers will now have an objective view of the size of these economies, their growth or contraction, and their major components in order to conduct economic-impact analysis on the effects of local and national policy decisions. (More)

Statement from Under Secretary Blank on March 2010 Personal Income and Outlays

Blank portrait.

Washington (May 3)—The U.S. Commerce Department’s Bureau of Economic Analysis released personal income and outlays data for March 2010. Personal income increased 0.3 percent in March, and real disposable personal income rose 0.2 percent. Real personal consumption expenditures increased 0.5 percent in March. “Today’s personal income data, particularly the growth in employee compensation, indicates that the recovery is taking hold across America,” said U.S. Commerce Department Under Secretary for Economic Affairs Rebecca Blank.” (More) (Release—PDF)

Secretary Locke Statement on Advance Estimate of Real GDP in the First Quarter of 2010

Department of Commerce seal.

The U.S. Commerce Department’s Bureau of Economic Analysis today released the first estimate of gross domestic product (GDP) for the first quarter of 2010. Real GDP grew 3.2 percent at an annual rate in the first quarter, consistent with private-sector expectations. “With a third-straight quarter of growth, it’s clear America’s economy is turning around,” U.S. Commerce Secretary Gary Locke said. “But Americans remain rightly focused on their personal financial situations and jobs. Wall Street reform is an essential part of securing the future for our families and businesses. (More) (Release)

NOAA: Global Temps Push Last Month Hottest March on Record

Temperature anomolies map. Click for larger image.

The world’s combined global land and ocean surface temperature made last month the warmest March on record, according to Commerce’s National Oceanic and Atmospheric Administration (NOAA). Taken separately, average ocean temperatures were the warmest for any March and the global land surface was the fourth warmest for any March on record. Additionally, the planet has seen the fourth warmest January-March period on record. The monthly National Climatic Data Center analysis, which is based on records going back to 1880. (More) (Temperature anomalies graphic). (State of the Climate report)

Secretary Locke Statement on February 2010 U.S. International Trade in Goods and Services

Department of Commerce seal

U.S. Commerce Secretary Gary Locke issued the following statement on the release of the February 2010 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 in February 2010 increased by 0.2 percent to $143.2 billion from their January 2010 level. Imports in February increased 1.7 percent over January to $182.9 billion. (More) (Release) (Fact sheet)

Statement from Under Secretary Blank on Personal Income and Outlays in February 2010

Portrait photo of Under Secretary Blank.

The U.S. Commerce Department’s Bureau of Economic Analysis today released personal income and outlays for February 2010. Personal income and real disposable income were nearly unchanged in February. Real personal consumption expenditures increased 0.3 percent. “Today’s data indicate that, as the Administration’s economic recovery efforts have pulled us back from the brink and taken hold, American families have been able to save more and improve their financial positions,” U.S. Commerce Under Secretary for Economic Affairs Rebecca Blank said. (More) (Release)

Under Secretary Blank Statement on Third Estimate of GDP in the Fourth Quarter 2009

Department of Commerce seal.

The U.S. Commerce Department’s Bureau of Economic Analysis released the third estimate of gross domestic product (GDP) for the fourth quarter of 2009. Real GDP grew 5.6 percent at an annual rate, nearly unchanged from the previous estimate of 5.9 percent. “As more fourth quarter data become available, it is evident that the administration’s efforts to promote economic recovery have helped create the conditions that lead to economic growth,” Commerce Under Secretary for Economic Affairs Rebecca Blank said. (More) (Release)

NOAA: Sixth-Warmest February in Combined Global Surface Temperature, Fifth-Warmest December-February

Last month’s combined global land and ocean surface temperature made it the sixth-warmest February ever recorded. Additionally, the December 2009-February 2010 period was the fifth-warmest on record averaged for any similar three-month Northern Hemisphere winter-Southern Hemisphere summer season, according to scientists at NOAA’s National Climatic Data Center in Asheville, N.C. Based on records going back to 1880, the monthly NCDC analysis is part of the suite of climate services NOAA provides to businesses, communities and governments so they may make informed decisions to safeguard their social and economic well-being. (More)

Secretary Locke Statement on January 2010 U.S. International Trade in Goods and Services

Department of Commerce seal.

U.S. Commerce Secretary Gary Locke issued the following statement on the release of the January 2010 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 in January 2010 decreased by 0.3 percent to $142.7 billion since December 2009. Imports in January decreased 1.7 percent over December to $180.0 billion. (More) (Fact sheet) (Release)

Under Secretary Blank Statement on Second Estimate of GDP in the Fourth Quarter 2009

Portrait of Blank.

The U.S. Commerce Department’s Bureau of Economic Analysis today released the second estimate of gross domestic product (GDP) for the fourth quarter of 2009. Real GDP was revised up slightly from 5.7 percent at an annual rate to 5.9 percent, primarily reflecting a smaller drawdown of inventories. (More) (Release)