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BEA Releases Third Estimate of Q1 GDP and Revised Corporate Profits Estimate (June 2016)


The Bureau of Economic Analysis has released its third estimate of first quarter 2016 gross domestic product and revised estimate of first quarter corporate profits.

The third estimate of GDP, based on more complete data, shows GDP increasing at an annual rate of 1.1%, which is up from 0.8% in the second estimate and 0.5% in the advance estimate. This is still a slight deceleration, however, from fourth quarter 2015, which saw GDP increasing at an annual rate of 1.4%. The data used in the third estimate paint a similar general economic picture, but show an increase in exports.

The revised estimate of corporate profits shows a greater increase of $34.7 billion, which is up from the preliminary estimate of $6.5 billion. This increase shows a great contrast with the $159.6 billion decrease seen in the fourth quarter of 2015.

The full report is accessible via the link below:


The Forensic Economist, An Economic Newsletter for Lawyers: Business Losses: Legal Framework, Economic Concepts (June 2016)


Business Losses:  Legal Framework, Economic Concepts


BLS Releases May 2016 Consumer Price Index (June 2016)


The Bureau of Labor Statistics has released Consumer Price Index data for May. The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2% in May.

The food index saw a decline of 0.2% as a result of the decline in all six major grocery store food group indexes. The gasoline index, however, rose 2.3%, driving an increase of 1.2% in the energy index.

The full report is available as a PDF below:


The Forensic Economist, An Economic Newsletter for Lawyers: Considerations for Valuing Retirement Benefits (June 2016)


Considerations for Valuing Retirement Benefits


June 2016 Livingston Survey Results (June 2016)


The Livingston Survey which began in 1946 is the oldest continuous survey of economists’ expectations.  The Federal Reserve Bank of Philadelphia has released results from the  December survey.  Bob Chase, senior economist at EPR has been a member of the Livingston Survey since the early 1990s.

Forecasters project that real GDP will grow at an annual rate of 1.4% during the first half of 2016, lower than previously estimated. They expect growth to rise to 2.4% during the second half of the year, which is more in line with projections in the December 2015 survey. Unemployment is expected to be 4.9% this month and 4.7% in December. Long term, forecasters see the real GDP growth rate at 2.2% and the CPI growth rate at 2.25%.

The full report is available below as a PDF:


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