G-Fin™: U.S.A.: Economic Brief – 06.29.12
State Quarterly Personal Income, 1st Quarter 2011-1st Quarter 2012
State personal income growth accelerated to 0.8% in the first quarter of 2012, from 0.4% in the fourth quarter of 2011.
Personal income rose in 47 of the 50 states, fell in Kansas and Mississippi, and was unchanged in Oklahoma.
The% change across states ranged from 2.3% in North Dakota to -0.3% in Mississippi. Inflation, as measured by the national price index for personal consumption expenditures, increased to 0.6% in the first quarter of 2012 from 0.3% in the fourth quarter of 2011.
County Employment and Wages
Over the year, Olmsted, Minn., had the largest decrease in average weekly wages in the fourth quarter of 2011, -21.3%. Kern, Calif., had the biggest over-the-year%age increase in employment, 5.3% in December 2011.
Metropolitan Area Employment and Unemployment (Monthly)
Jobless rates were lower in May than a year earlier in 331 of the 372 metropolitan areas, higher in 32, and unchanged in 9.
Nonfarm payroll employment was up in 266 metropolitan areas over the year, down in 101, and unchanged in 5.
Personal Income and Outlays, May 2012
Personal income increased $25.4 billion, or 0.2%, and disposable personal income (DPI) increased $18.5 billion, or 0.2%, in May.
Personal consumption expenditures (PCE) decreased $4.7 billion, or less than 0.1%.
In April, personal income increased $29.4 billion, or 0.2%, DPI increased $19.5 billion, or 0.2%, and PCE increased $16.2 billion, or 0.1%, based on revised estimates.
GDP (third estimate) and Corporate Profits (revised estimate), 1st quarter 2012
Real gross domestic product—the output of goods and services produced by labor and property located in the United States—increased at an annual rate of 1.9% in the first quarter of 2012 (that is, from the fourth quarter to the first quarter).
In the fourth quarter, real GDP increased 3.0%.
Net International Investment Position at Yearend 2011
The U.S. net international investment position at yearend 2011 was -$4,030.3 billion (preliminary), as the value of foreign investment in the United States continued to exceed the value of U.S. investment abroad (table 1).
At yearend 2010, the U.S. net international investment position was -$2,473.6 billion (revised).
The -$1,556.7 billion change in the U.S. net investment position from yearend 2010 to yearend 2011 was mainly attributable to net price changes of -$802.1 billion and net financial flows of -$556.3 billion.