August 4, 2014
Good afternoon from the Department of Commerce.
Last week Secretary of Commerce Penny Pritzker traveled
to India where she joined U.S. Secretary of State John Kerry for the U.S.-India
Strategic Dialogue in New Delhi. Their trip marks the first U.S. Cabinet-level
visit to New Delhi since the new Indian government was elected, and Secretary Pritzker,
along with Secretary Kerry, met with Prime Minister Modi and a number of other
members and business leaders.
Excitement is also stirring at the Commerce Department in
preparation of this week’s first U.S. Africa Business Forum, a day that will
focus on trade and investment opportunities in Africa. The forum is a part of
President Obama’s U.S.-Africa Leaders Summit, a historic convening of African
heads of state and government. I encourage you to tune
in on Tuesday, August 5 to watch the Forum!
Best,
Justin
U.S.
Secretary of Commerce Penny Pritzker Makes First Official Trip to India for
U.S.-India Strategic Dialogue - The commercial relationship between United
States and India has long stood as a core pillar of the alliance between the two
countries. The United States is committed to reinvigorating ties with India and
expanding our economic partnership.
U.S.-Africa
Business Success Stories: How a Supplier of Powerboats to the U.S. Military
Started Doing Business in Nigeria - The Tampa Bay USEAC put Hann Powerboats
in touch with the Nigerian Embassy in Washington D.C. to help them acquire
proper documentation. The result of this assistance allowed Hann Powerboats to
make sales to MOP Marine for over $4 million.
The
U.S. Partnerships and Initiatives Spurring Economic Growth in Africa - The
Department of Commerce and Bloomberg Philanthropies will co-host the U.S.
Africa Business Forum on August 5, a day focused on trade and investment
opportunities on the continent. Part of the first-ever U.S.-Africa Leaders
Summit taking place August 4-6, the Forum is part of the Administration’s
efforts to explore Africa’s huge economic potential.
Building
Bridges to Young Africa Leaders - The Young African Leaders Initiative
(YALI) Washington Fellowship connects young African leaders to leadership
training opportunities at some of America’s top universities to help them
foster change in their communities and countries.
Commerce
Department Recognizes Minority Business Community Champions - U.S. Deputy
Secretary of Commerce, Bruce Andrews, recognized the 2014 National Minority
Enterprise Development (MED) Week Award winners during a ceremony at the annual
MED Week Conference in Washington, D.C. MBDA awarded 13 organizations,
businesses and individuals who have demonstrated leadership and commitment in
advancing the minority business community.
Commerce
Department Achieves FY 2013 Small Business Federal Contracting Goal - U.S.
small businesses are the backbone of our economy, and the Commerce Department
works to both support those businesses and ensure they are informed about
Commerce’s many services to help them grow.
NTIA
Broadband Program Supports Workforce Preparation Across the United States -
Secretary Pritzker served on a task force with Vice President Biden that
recently released a report looking at solutions for making the nation’s workforce
and training system more job-driven, integrated and effective.
EDA
and the International Economic Development Council Create User-Friendly Tool to
Help Communities Recover Their Economy after Disasters - Communities need
to be prepared for all of the effects of a natural disaster, and there is a new
tool available to help them be more resilient. The International Economic Development
Council recently launched "Leadership in Times of Crisis: A Toolkit for
Economic Recovery and Resiliency" - a guide to help communities recover
their economy after a disaster.
The
American Community Survey: Helping Decision Makers Assist People in Times of
Need - A Census video provides statistics about resources, such as after a
natural disaster, for communities to reference in making decisions. These
statistics are critical to emergency planning, preparedness and recovery
efforts.
Commerce's
NIST Leads Nationwide Effort to Provide Tools and Guidance to Help U.S. Communities
Become More Disaster Resilient - Providing tools and guidance to help U.S.
communities become more disaster resilient is the goal of a collaborative,
nationwide effort led by the National Institute of Standards and Technology
(NIST). Carried out under the President's Climate Action Plan, this recently
launched national initiative will yield a comprehensive, disaster resilience
framework that will help communities develop plans to protect people and
property before disaster strikes and to recover more rapidly and efficiently.
Commerce
in the Community - Manpower Development Corporation (MDC) utilizes
effective partnership model to promote sustainable economic development and
opportunity at the community level. This blog post highlights the work of
community leaders and organizations that strengthen the middle class and
provide ladders of opportunity for all Americans.
Visit
Us at the 2014 Joint Statistical Meetings in Boston - The Census Bureau’s
Tommy Wright, chief of statistical research and methodology, writes that
several thousand statisticians, including staff from the Census Bureau, will
present testing and research results on many topics at the Joint Statistical
Meetings in Boston from Aug. 2 through 7. The theme of the conference is: “Statistics:
Global Impact–Past, Present and Future.”
Understanding
Geographic Relationships: Counties,
Places, Tracts and More - Census Bureau geographer Katy Rossiter writes
that geography is at the center of taking a census, and understanding geographic
relationships is key to understanding how to properly use Census Bureau data.
NIST
Announces New Competition for Advanced Manufacturing Planning Awards - NIST
announced a new competition for planning awards to support industry-driven
consortia in developing research plans and charting collaborative actions to
solve high-priority technology challenges and accelerate the growth of advanced
manufacturing in the United States.
Under Secretary Doms wrote about using
data to connect workers & employers at career building data jam on his
blog this week.
The Bureau of Economic Analysis wrote Detailed
Direct Investment Data Now Available for 2013 as well as GDP
Turns Up in Second Quarter on their blog this week.
National vacancy
rates in the second quarter 2014 were 7.5 percent for rental housing and
1.9 percent for homeowner housing. The rental vacancy rate of 7.5 percent was
0.7 percentage points lower than the rate in the second quarter 2013 and 0.8
percentage points lower than the rate last quarter. The homeowner vacancy rate
of 1.9 percent was approximately the same as the rate in the second quarter
2013 and 0.1 percentage point lower than the rate last quarter.
Total
construction activity for June 2014 ($950.2 billion) was 1.8 percent below
the revised May 2014 ($967.8 billion).
Real
gross domestic product (GDP) increased at an annual rate of 4.0 percent in
the second quarter of 2014, according to today’s first estimate.
Personal
income in June 2014 increased 0.4 percent. Nominal personal consumption
expenditures (PCE) rose 0.4 percent, while real PCE rose 0.2 percent. Nominal
disposable personal income (DPI) rose 0.4 percent, while real DPI increased 0.2
percent. The personal saving rate as a percentage of DPI was 5.3 percent in
June.
Construction
spending in June 2014 was $950.2 billion at a seasonally adjusted annual
rate, down 1.8 percent from the revised May 2014 estimate but up 5.5 percent
from June 2013.
Commerce Data in the News:
BEA’s
release of the advance estimate of Gross Domestic Product, 2nd quarter
2014 advance estimate
was covered by the New York Times: Bouncing
Back, Economy Grew 4% for Quarter.
BEA’s second quarter GDP release was also covered by the Wall Street
Journal: Growth Rebound Stokes Fed.
The Minneapolis
Star-Tribune used Census Bureau statistics on ancestry to report that there
are about 7,000 people of Liberian descent in Minnesota — where the family of
Liberian government official Patrick Sawyer lives — in the article Minnesota’s Liberians, Officials Discuss
Ebola. Sawyer made national
headlines when he died from Ebola contracted in Liberia.
CNN Money cites
Census Bureau age and race statistics to write that the most common age is 22,
the median age is 37.6, and white children will no longer make up the majority
in a few years in the article Millennial
Generation is Bigger, More Diverse Than Boomers.
Data Releases This Week: Manufacturers’ Shipments, Inventories, and Orders: June
(Census); International Trade: June (Census and BEA); Monthly Wholesale Trade:
June (Census)
On Tuesday, U.S. Secretary of Commerce Penny Pritzker
will deliver welcoming remarks at the U.S.-Africa Business Forum, a day focused
on trade and investment opportunities on the continent of Africa. Co-hosted by
the Commerce Department and Bloomberg Philanthropies, the Forum is part of
President Obama’s U.S.-Africa Leaders Summit, the first summit of its kind and
the largest event that any U.S. president has ever convened with African heads
of state or government. Additional speakers at the Forum will include President
Obama, President Bill Clinton, Vice President Joe Biden, Secretary of State
John Kerry, and Michael Bloomberg. More than $900 million in business deals
will be announced during the Forum, which will convene more than 200 U.S. and
African business leaders.
On Tuesday as well, Assistant Secretary for Economic
Development Jay Williams will provide opening remarks and field questions at
the “Trade, Not Aid: Forging US-African Business Partnerships” web chat, hosted
by the U.S. Department of State, African Affairs Bureau in collaboration with
the U.S. Embassy in Abuja for young Nigerian entrepreneurs.
Finally on Tuesday, Census Director John Thompson will
attend the 2014 Joint Statistical Meetings, the largest gathering of
statisticians held in North America, in Boston, MA.
Also
on Wednesday, NIST Advanced Manufacturing National Program Office (AMNPO)
Director Michael Molnar will speak about the National Network for Manufacturing
Innovation (NNMI) at the Composite Materials Handbook-17 Working Group Meeting
at Florida International University in Miami, Florida.
U.S. Commerce Secretary Penny Pritzker and U.S. Secretary
of State John Kerry walk past the Rashtrapati
Bhawan the President of India’s
Palace.
Secretaries Pritzker and Kerry prepare for a joint
television interview with NDTV host Prannoy Roy between meetings during the
U.S.-India Strategic Dialogue.
A preview of the first-ever
U.S. - Africa Business Forum, co-hosted by the U.S. Department of Commerce
and Bloomberg Philanthropies. This will be a day focused on trade and
investment opportunities on the continent for African heads of government and
American business leaders.
A chance to learn about the African
Leaders Summit August 4-6th in Washington D.C.
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