• U.S. Gross Domestic Product & Price Index – Q4 2013

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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 3.2 percent in the fourth quarter of 2013 (that is, from the third quarter to the fourth quarter). In the third quarter, real GDP increased 4.1 percent. The increase in real GDP in the fourth quarter primarily reflected positive contributions from personal consumption expenditures (PCE), exports, nonresidential fixed investment, private inventory investment, and state and local government spending that were partly offset by negative contributions from federal government spending and residential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased. The deceleration in real GDP in the fourth quarter reflected a deceleration in private inventory investment, a larger decrease in federal government spending, a downturn in residential fixed investment, and decelerations in state and local government spending and in nonresidential fixed investment that were partly offset by accelerations in exports and in PCE and a deceleration in imports. The price index for gross domestic purchases, which measures prices paid by U.S. residents, increased 1.2 percent in the fourth quarter, compared with an increase of 1.8 percent in the third. Excluding food and energy prices, the price index for gross domestic purchases increased 1.7 percent in the fourth quarter, compared with an increase of 1.5 percent in the third. See the complete report at this link: USDOC-BEA

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• U.S. Real Earnings – November 2013

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Real average hourly earnings for all employees rose 0.2 percent from October to November, seasonally adjusted. This increase stems from a 0.2 percent increase in average hourly earnings combined with an unchanged Consumer Price Index (sa) for All Urban Consumers (CPI-U). Real average weekly earnings rose 0.4 percent over the month due to the increase in real average hourly earnings combined with a 0.3 percent increase in the average workweek. Real average hourly earnings rose 0.9 percent, seasonally adjusted, from November 2012 to November 2013. The increase in real average hourly earnings, combined with a 0.3 percent increase in the average workweek, resulted in a 1.1 percent increase in real average weekly earnings over this period. See the complete report at this link: USDOL-BLS *Note: Real earnings show the effect of inflation on your pay. If your salary went up by 1.1% over the year while the cost-of-living (CPI-U) rose 1.3%, then the “real” value of your salary fell by 0.2% [differences in some of the data are due to rounding and seasonal adjustment]. The figures reported here are earnings for all employees on private nonfarm payrolls, seasonally adjusted.

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• U.S. Real* Earnings – September 2013 [Inflation, wages, pay, salaries]

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Real average hourly earnings for all employees were unchanged from August to September, seasonally adjusted. This result stems from a 0.1 percent increase in average hourly earnings being offset by a 0.2 percent increase in the Consumer Price Index for All Urban Consumers (CPI-U). Real average weekly earnings decreased 0.1 percent over the month due to an unchanged real average hourly earnings and an unchanged average workweek. Real average hourly earnings rose 0.9 percent, seasonally adjusted, from September 2012 to September 2013. The increase in real average hourly earnings, combined with an unchanged average workweek, resulted in a 0.9 percent increase in real average weekly earnings over this period. Source: USDOL-BLS *Note: Real earnings show the effect of inflation on your pay. If your salary went up by 2.1% over the year while the cost-of-living (CPI-U) rose 1.2%, then the “real” value of your salary rose by 0.9% [differences in some of the data are due to rounding and seasonal adjustment]. The figures reported here are earnings for all employees on private nonfarm payrolls, seasonally adjusted. Click on chart to enlarge

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• U.S. Inflation – Q2 2013

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As measured by the U.S. Gross Domestic Product [GDP] Price Index, prices increased by 1.3% in the U.S. from Q2 2012 to Q2 2013 This index is a supplemental measure that is based on household expenditures for which there are observable price measures. It excludes most implicit prices (for example, financial services furnished without payment) and the final consumption expenditures of nonprofit institutions serving households. See the complete report at this link: USDOC-BEA Index numbers of price indexes for GDP and its major components are presented in this release in table 6.

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