Newsroom
December 05, 2013
GDP growth driven by private inventories
Dec. 6, 2013 – The U.S. economy expanded 3.6 percent in the third quarter, according to the government second estimate of gross domestic product, primarily due to an upsurge in private inventories, said NAFCU Chief Economist and Director of Research David Carrier.
"The big increase in third-quarter GDP was due primarily to an increase in inventories, which accumulated at the fastest rate since 1998," Carrier said in a NAFCU Macro Data Flash report. He noted the increase in unsold goods added 1.68 percentage points to GDP last quarter; it was the largest contribution to overall GDP growth since the fourth quarter of 2011. Total government expenditures also made a positive contribution to GDP growth for the first time this year, Carrier said, even though Federal government expenditures continued to decline.
Data from the Bureau of Economic Analysis also showed:
Changes in inventories grew from $56.6 billion in the second quarter to $116.5 billion in the third quarter. Net exports changed from negative $424.4 billion to negative $422.1 billion from the second quarter to the third.
"The impact of the October government shutdown will be captured in fourth quarter data and is expected to affect growth in the final quarter of the year," Carrier said.
"The big increase in third-quarter GDP was due primarily to an increase in inventories, which accumulated at the fastest rate since 1998," Carrier said in a NAFCU Macro Data Flash report. He noted the increase in unsold goods added 1.68 percentage points to GDP last quarter; it was the largest contribution to overall GDP growth since the fourth quarter of 2011. Total government expenditures also made a positive contribution to GDP growth for the first time this year, Carrier said, even though Federal government expenditures continued to decline.
Data from the Bureau of Economic Analysis also showed:
- residential investment increased 13 percent;
- nonresidential investment increased 3.5 percent;
- consumer spending increased by 1.4 percent; and
- government spending increased by 0.4 percent.
Changes in inventories grew from $56.6 billion in the second quarter to $116.5 billion in the third quarter. Net exports changed from negative $424.4 billion to negative $422.1 billion from the second quarter to the third.
"The impact of the October government shutdown will be captured in fourth quarter data and is expected to affect growth in the final quarter of the year," Carrier said.
Share This
Related Resources
Add to Calendar 2024-04-23 14:00:00 2024-04-23 14:00:00 Monitoring the Latest Litigation Risks Credit unions’ operations pose litigation risks, with more of these cases being filed as class action lawsuits. In this Monitoring the Latest Litigation Risks for Credit Unions webinar, you’ll review some of the specific kinds of lawsuits impacting credit unions and what potential claims could be on the horizon. You’ll also examine some options for mitigating risks. Key Takeaways Review the current lawsuit trends. Understand the potential claims risks Explore options for mitigating risks. Register Now $295 Members | $395 Nonmembers(Additional $50 for USB)One registration gives your entire team access to the live webinar and on-demand recording until April 23, 2025Go to the Online Training Center to access the webinar after purchase » Who Should Attend NCCOs NCRMs Compliance and risk titles Education Credits NCRMs will recieve 1.0 CEUs for participating in this webinar NCCOs will recieve 1.0 CEUs for participating in this webinar Web NAFCU digital@nafcu.org America/New_York public
Monitoring the Latest Litigation Risks
Credits: NCCO, NCRM
Webinar
Resiliency In Your Incident Response Plan
Cybersecurity
preferred partner
DefenseStorm
Blog Post
The Bottom Line on Insurance Tracking and Collateral Protection
Strategy
preferred partner
Allied Solutions
Blog Post
Add to Calendar 2024-04-15 09:00:00 2024-04-15 09:00:00 Mergers and Acquisitions: Unifying Two Different Executive Total Compensation and Benefits Programs Listen On: Key Takeaways: [03:50] With the merger of a smaller credit union into a larger one you are really only dealing with integrating staff into the larger credit union. [05:53] When working with a merger of equals we start with a deep dive into the executive compensation and benefits of each organization. [09:09] If your current executive benefits provider doesn’t conduct regular plan evaluations, consider having a plan audit anyway. [13:46] Don’t overpay for these things if you don’t have to. When you have more options available that means the cost is more appropriate. [17:11] It is in a unified organization’s best interest to do tier timelines where we look at your top executives who are critical to the unified organization’s success today and then slowly add in the next levels. Web NAFCU digital@nafcu.org America/New_York public
Mergers and Acquisitions: Unifying Two Different Executive Total Compensation and Benefits Programs
preferred partner
Gallagher
Podcast
Get daily updates.
Subscribe to NAFCU today.