Friday, June 24, 2011

Q1 real GDP growth revised up to 1.9%, Durable-goods orders up 1.9%

by Calculated Risk on 6/24/2011 08:30:00 AM

From the BEA: Gross Domestic Product: First Quarter 2011 (Third Estimate). This small upward revision, compared to the 2nd estimate, was because of a slight increase in Net exports, and a larger contribution from the change in private inventories - partially offset by a larger decrease in state and local government spending.

From the Census Bureau: Advance Report on Durable Goods Manufacturers’ Shipments, Inventories and Orders May 2011

New orders for manufactured durable goods in May increased $3.6 billion or 1.9 percent to $195.6 billion, the U.S. Census Bureau announced today. This increase, up two of the last three months, followed a 2.7 percent April decrease. Excluding transportation, new orders increased 0.6 percent. Excluding defense, new orders increased 1.9 percent.
This was above the consensus of a 1.6 percent increase.