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Statement from U.S. Commerce Secretary Gary Locke on the Advance Estimate of GDP for the Second Quarter of 2011

Submitted on July 29, 2011 - 9:54am
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WASHINGTON, D.C. – The U.S. Commerce Department’s Bureau of Economic Analysis today released the advance estimate of gross domestic product (GDP) for the second quarter of 2011. Today’s release also contained revisions to prior years. Real GDP grew 1.3 percent at an annual rate, below private-sector expectations of 1.8-percent growth and up from 0.4-percent growth in the first quarter, which was revised down from 1.9 percent. The most notable revision was to 2009, where GDP growth was revised down 0.9 percentage points, indicating that the recession was even more severe than initially estimated. GDP has now grown for eight consecutive quarters.

Statement from U.S. Commerce Secretary Gary Locke on New Residential Construction in June 2011

Submitted on July 19, 2011 - 10:32am
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WASHINGTON – The Commerce Department’s U.S. Census Bureau today released data on new residential construction for June 2011. Housing starts surged 14.6 percent in June, easily surpassing private-sector expectations of a 2.7-percent increase. Permits for new housing units also beat expectations, increasing 2.5 percent in June following an 8.2-percent jump in May. Private-sector analysts had expected a 2.3-percent drop in permits from May to June.

New Commerce Department Report Shows Fast-Growing STEM Jobs Offer Higher Pay, Lower Unemployment

Submitted on July 14, 2011 - 10:09am

WASHINGTON – The U.S. Department of Commerce’s Economics and Statistics Administration (ESA) today released a new report that profiles U.S. employment in the science, technology, engineering and mathematics (STEM) fields. STEM: Good Jobs Now and for the Future offers an inside look at workers who are driving our nation’s innovation and competitiveness and helping America win the future with new ideas, new companies and new industries.

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Statement from U.S. Commerce Secretary Gary Locke on Retail Sales in June 2011

Submitted on July 14, 2011 - 9:52am

WASHINGTON – The Commerce Department’s U.S. Census Bureau today released retail sales data for June 2011. Retail sales increased 0.1 percent, stronger than private-sector expectations of a 0.2-percent decline. Excluding motor vehicles, retail sales were unchanged, matching private-sector expectations. Sales at gasoline stations declined 1.3 percent, largely due to a May-to-June drop in gas prices.

application/pdf iconStatement from U.S. Commerce Secretary Gary Locke on Retail Sales in June 2011

Statement from U.S. Commerce Secretary Gary Locke on U.S. International Trade in Goods and Services in May 2011

Submitted on July 12, 2011 - 11:16am
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WASHINGTON – U.S. Commerce Secretary Gary Locke issued the following statement today on the release of the May 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 May 2011 decreased 0.5 percent from April 2011 to $174.9 billion, with record monthly exports of services ($49.7 billion). The monthly export value for U.S. capital goods ($41.4 billion) was also the highest on record. U.S. imports of goods and services increased 2.6 percent over this period to $225.1 billion, causing the U.S. trade deficit to increase 15.1 percent since April 2011 to reach $50.2 billion in May 2011.

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