Cross Timbers Business Report, Volume 21, Number 2, Winter 2008 Page: 1
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Cross Timbers Business Report
Published by the College of Business Administration, Tarleton State University
Articles by Members of Delta Mu Delta, Nidhi Gupta, Student Editor
Volume 21, No.2 Winter 2008
GR O WTH RA TE PL UMMETS
By Nidhi Gupta
The fourth quarter of 2007 posted a significant offset by a deceleration in imports and acceleration in
decline in the expansion of real Gross Domestic Product state and local government spending.
(GDP), the nation's official measure of economic growth. PCE increased 2.0 percent in the fourth quarter,
Last period's 0.6 percent growth rate marks a sharp drop compared to an increase of 2.8 percent in the third. Durable
from the 4.8 percent growth witnessed during the third goods purchases rose 4.2 percent in the fourth quarter, after
quarter, according to the latest report by the U.S increasing by 0.3 percent July through September.
Department of Commerce. Nondurable goods consumption increased 1.9 percent,
compared to an increase of 2.2 percent in the third quarter.
Changes in Real GDP Real gross domestic purchases- purchases by the U.S
Annual Percentage Rates residents of goods and services wherever produced -
increased 0.2 percent in the fourth quarter, compared to an
increase of 3.3 percent in the third. International trade
5 contributed 0.41 percentage point to GDP in the fourth
quarter. Exports increased 3.9 percent while imports
4 increased by only 0.3 percent. Federal government spending
3 increased 0.3 percent, after rising by 7.1 in the third quarter.
2.4 2.1 The price index for PCE rose by 3.9 percent after
2 increasing by 1.8 percent in the third quarter. Also, the price
1.1 index for gross domestic purchases, which measures prices
10.6 0.6 paid by the U.S residents, rose 3.8 percent after increasing
0 1.8 percent in the third quarter.
Q1 Q2 0Q3 Q4 Q1 Q2 2007 Q3 Q4 The Department of Commerce collects and reports
Source: Bureau of Economic Analysis, U. S. Department of Commerce GDP data on a quarterly basis. Two revisions will be made
This deceleration primarily reflects a downturn in before a final estimate is posted.
inventory and residential investment and slowdowns in Nidhi Gupta is pursuing a Master of Business
PCE (personal consumption expenditures), and in federal Administration degree at Tarleton State University.
government spending. These weaknesses were partly
Consumer Prices Increase in Fourth Quarter
By Mary Sheehan
Consumer prices in the fourth quarter of 2007 were year's inflation were food and beverages, medical care and
significantly higher than 2006. Major contributors to last energy.
INF LATION RATES The CPI (Consumer Price Index) stood at 211.2 at the end
of 2007 for all items (base year 1982-1984). This value
(Annual Changes in Consumer Prices) indicates a 4.1 percent price increase compared to December
10 Percent 2006. This figure also marks the highest inflation rate this
7 decade.
3 3 4 On a seasonally adjusted basis, the index for all items less
food and energy advanced 0.2 percent in December,
0 following a 0.3 percent increase in November. The food and
beverages index increased by 4.8 percent in December 2007,
-5.3 compared to 2.2 percent in December 2006. The medical care
10 index rose 5.2 percent in December 2007, its largest annual
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2006 2007 advance since a 5.4 percent increase in 1993.The index for
Source: Bureau of Labor Statistics
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Tarleton State University. College of Business Administration. Cross Timbers Business Report, Volume 21, Number 2, Winter 2008, periodical, Winter 2008; Stephenville, Texas. (https://texashistory.unt.edu/ark:/67531/metapth284676/m1/1/: accessed April 24, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Tarleton State University.