Newsroom

Statement from Under Secretary Rebecca Blank on the Second Estimate of Gross Domestic Product in the Second Quarter 2010

Submitted on August 27, 2010 - 9:30am
Categories:

The U.S. Commerce Department’s Bureau of Economic Analysis today released the second estimate of gross domestic product (GDP) for the second quarter of 2010. Growth in real GDP was lowered to 1.6 percent at an annual rate from the advance estimate of 2.4 percent. Most private-sector analysts had expected a revision to 1.4 percent in the second quarter. The downward revision reflected a wider trade deficit and lower inventories than were originally reported.

Statement from Commerce Under Secretary Rebecca Blank on Personal Income and Outlays in June 2010

Submitted on August 3, 2010 - 12:00am
Categories:

Washington, D.C. – The U.S. Commerce Department’s Bureau of Economic Analysis today released personal income and outlays for June 2010. Personal income remained unchanged in June, and real disposable income increased 0.2 percent.  Real personal consumption expenditures increased 0.1 percent in June and at a 1.6-percent annual rate in the second quarter.

“Employment in private industry is growing at a modest pace, and this growth is helping to raise incomes among American families,” said U.S. Commerce Under Secretary for Economic Affairs Rebecca Blank. “Healthy consumer spending goes hand-in-hand with income and job growth, and the administration remains focused on boosting employment to ensure every American who wants a job can get one.”