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Economic Indicator: Private Sector Employment up 257,000 in January 2012

Submitted on February 3, 2012 - 3:24pm
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Some good news on the employment front! The Bureau of Labor Statistics (BLS) released their January 2012 report on the employment situation showing private sector employment increased 257,000 -- the largest increase since April 2011 (264,000).  In addition, private sector employment gains were revised upward by 58,000 in November and 8,000 in December.  Over the past 23 months, the private sector has added jobs every month for a total of nearly 3.7 million jobs.  

Economic Indicator: Light Vehicle Sales Up at start of 2012

Submitted on February 2, 2012 - 4:11pm
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One of the first available indicators about the U.S. economy in 2012 is the measure of retail sales of light vehicles and the news is good: January saw new sales just under 14.2 million (at an annual rate), up from 13.6 in December 2011.  This is highest monthly level since May 2008 (even higher than the August 2009 spike, or as I like to call it “Mount Cash-for-Clunkers”).

Economic Indicator: Private Construction Spending up in 2011

Submitted on February 1, 2012 - 3:25pm
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Like many other economic indicators (such as GDP, Employment, and Personal Income) construction spending finished the year on an upward trend as we move into 2012.  Total construction spending in December 2011 was $816.4 billion at a seasonally adjusted annual rate, up 1.5 percent from the revised Nove

Economic Indicator: A Look at Personal Income in 2010-11

Submitted on February 1, 2012 - 11:06am
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Personal income ended the year on a positive note-increasing 0.5 percent in December, its largest gain since February 2011.  

Economic Indicator: A Look at Personal Income in 2010-11

Statement from U.S. Commerce Department Chief Economist Mark Doms on Personal Income and Outlays in December 2011

Submitted on January 30, 2012 - 11:39am
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WASHINGTON - The U.S. Commerce Department’s Bureau of Economic Analysis today released data on personal income and outlays for December 2011. Personal income rose 0.5 percent in December, significantly higher than the 0.1 percent rise in November and exceeding private-sector forecasts of a 0.4 percent increase. Wages and salaries accounted for nearly half the increase with other components rising as well. Real consumer spending edged down 0.1% in December. 

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

Submitted on January 27, 2012 - 11:31am
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The U.S. Commerce Department’s Bureau of Economic Analysis today released the advance estimate of gross domestic product (GDP) for the fourth quarter of 2011.  Real GDP rose 2.8 percent at an annual rate, up from 1.8 percent in the third quarter. Real GDP for 2011 overall grew 1.7 percent. The increase in real GDP reflected growth across several key economic sectors.  Real exports of goods and services increased 4.7 percent in the fourth quarter, the same increase as in the third.

 

Statement from U.S. Commerce Secretary John Bryson on U.S. International Trade in Goods and Services in November 2011

Submitted on January 13, 2012 - 2:27pm
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WASHINGTON – U.S. Secretary of Commerce John E. Bryson issued the statement below on the release of the November 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 November 2011 decreased 0.9 percent from October 2011 to $177.8 billion, with this month’s exports of consumer goods ($15.7 billion) the highest on record. U.S. imports of goods and services increased by 1.3 percent to reach $225.6 billion, causing the U.S. trade deficit to increase by 10.4 percent to reach $47.8 billion in November 2011. Petroleum imports increased 31 percent, while crude oil imports rose by 6.5 percent.

Statement from U.S. Commerce Secretary John Bryson on Retail Sales in 2011

Submitted on January 12, 2012 - 1:22pm

WASHINGTON – The Commerce Department’s U.S. Census Bureau today released retail sales data for December and full year 2011. The data reflects strong growth last year, compared to 2010, increasing 7.7 percent.  Excluding automobiles, full year 2011 retail sales grew 7.3 percent.

In the month of December 2011, retail sales increased 0.1 percent from November and 6.5 percent from December 2010.  Excluding autos, December 2011 sales declined 0.2 percent from November but grew 6.0 percent from December 2010.

Commerce Department Report Provides Roadmap for Competitiveness

Submitted on January 6, 2012 - 10:52am
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Department also launches interactive report at www.commerce.gov/competes to highlight study’s findings and work already underway

WASHINGTON – The U.S Department of Commerce today delivered to Congress a comprehensive report on “The Competitiveness and Innovative Capacity of the United States.”  The report serves as a call to arms, highlighting bipartisan priorities to sustain and promote American innovation and economic competitiveness. 

 The report makes three important findings:

Statement from U.S. Commerce Secretary John Bryson on New Residential Construction in November 2011

Submitted on December 20, 2011 - 2:57pm
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WASHINGTON – The Commerce Department's U.S. Census Bureau today released data on new residential construction in November 2011.  Permits for new housing units rose 5.7 percent in November, well-above private-sector expectations of a 1.7 percent decline.  Housing starts soared to their highest level since April 2010, increasing 9.3 percent from October to November and 24.3 percent from November 2010. Private-sector analysts had expected an 0.3 percent rise. 

Today's news was driven in large part by a significant upturn in multi-family housing starts - an increase of 25.3 percent from October to November 2011.  The three-month average of multi-family starts is also up.