Real gross domestic product (GDP) declined at an annual rate of 0.1 percent in the fourth quarter of 2012, according to today’s advance estimate. GDP grew 2.2 percent in 2012 overall.
The November 2012 international trade deficit increased 15.8 percent from October, to $48.7 billion. Exports rose 1.0 percent, to $182.6 billion, and imports increased 3.8 percent, to $231.3 billion.
Personal income in November 2012 increased 0.6 percent. Nominal personal consumption expenditures (PCE) rose 0.4 percent and real PCE increased 0.6 percent. Nominal disposable personal income (DPI) increased 0.6 percent and real DPI rose 0.8 percent. The personal saving rate as a percentage of DPI was 3.6 percent in November.
Real gross domestic product (GDP) grew at an annual rate of 3.1 percent in the third quarter of 2012, according to today’s third estimate. This follows a growth rate of 1.3 percent in the second quarter of 2012.
The U.S. current-account deficit decreased to $107.5 billion, or 2.7 percent of GDP in the third quarter of 2012, from $118.1 billion (revised) in the second quarter of 2012, or 3.0 percent of GDP.
