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Statement from U.S. Commerce Secretary John Bryson on the Advance Estimate of Gross Domestic Product in the Third Quarter 2011

Submitted on October 27, 2011 - 9:48am
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WASHINGTON – The U.S. Commerce Department’s Bureau of Economic Analysis today released the advance estimate of gross domestic product (GDP) for the third quarter of 2011.  Real GDP rose 2.5 percent at an annual rate, consistent with private-sector expectations and up from the 1.3 percent increase in the second quarter and a significant step-up from the 0.4 percent gain in the first quarter.

Statement from Acting Commerce Secretary Rebecca Blank on Retail Sales in September 2011

Submitted on October 14, 2011 - 1:06pm
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WASHINGTON – The Commerce Department’s U.S. Census Bureau today released retail sales data for September 2011. Retail sales surged 1.1 percent, exceeding private sector expectations of a 0.7 percent advance. Motor vehicle and parts sales jumped 3.6 percent. Sales excluding automotive dealers jumped 0.6 percent, also above private-sector expectations of a 0.3 percent rise. In addition, August sales were revised up from an initial report of no change to a 0.3 percent increase.

Statement from Acting U.S. Commerce Secretary Rebecca Blank on U.S. International Trade in Goods and Services in August 2011

Submitted on October 13, 2011 - 11:04am
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WASHINGTON – Acting U.S. Commerce Secretary Rebecca Blank issued the following statement today on the release of the August 2011 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 of goods and services in August 2011 decreased 0.1 percent from July 2011 to $177.6 billion.  This month’s exports of petroleum products ($10.3 billion) were the highest on record.  This month’s exports of services ($50.9 billion) were also the highest on record leading the U.S. trade surplus in services to reach a record $15.8 billion in August.  U.S. imports of goods and services also decreased $111 million to reach $223.2 billion, causing the U.S.