![\"gdp2q16_adv_chart\"](\"https:\/\/new.thepinetree.net\/wp-content\/uploads\/2016\/07\/gdp2q16_adv_chart.png\")
<\/p>\nWashington, DC…Real gross domestic product increased at an annual rate of 1.2 percent in the second quarter of 2016
\n(table 1), according to the “advance” estimate released by the Bureau of Economic Analysis. In the first
\nquarter, real GDP increased 0.8 percent (revised). The Bureau emphasized that the second-quarter advance estimate released today is based on source data that are incomplete or subject to further revision by the source agency (see \u201cSource Data for the Advance Estimate\u201d on page 2). The “second” estimate for the second quarter, based on more complete data, will be released on August 26, 2016…<\/p>\n
<\/p>\n
The increase in real GDP in the second quarter reflected positive contributions from personal
\nconsumption expenditures (PCE) and exports that were partly offset by negative contributions from
\nprivate inventory investment, nonresidential fixed investment, residential fixed investment, and state
\nand local government spending. Imports, which are a subtraction in the calculation of GDP, decreased.
\nReal GDP: Percent Change from Preceding Quarter<\/p>\n
Annual Update of the National Income and Product Accounts<\/p>\n
The estimates released today reflect the results of the annual update of the national income and
\nproduct accounts (NIPAs) in conjunction with the “advance” estimate of GDP for the second quarter of
\n2016. The update covers the first quarter of 2013 through the first quarter of 2016. For more
\ninformation, see “Information on the 2016 Annual Update” on BEA\u2019s Web site. Additionally, the August
\nSurvey of Current Business will contain an article that describes the results in detail.
\n_______<\/p>\n
The acceleration in real GDP growth in the second quarter reflected an acceleration in PCE, an upturn in
\nexports, and smaller decreases in nonresidential fixed investment and in federal government spending.
\nThese were partly offset by a larger decrease in private inventory investment, and downturns in
\nresidential fixed investment and in state and local government spending.<\/p>\n
Current-dollar GDP increased 3.5 percent (table 1), or $155.9 billion, in the second quarter to a level of
\n$18,437.6 billion (table 3A). In the first quarter, current dollar GDP increased 1.3 percent (revised), or
\n$58.9 billion.<\/p>\n
The price index for gross domestic purchases increased 2.0 percent in the second quarter, compared
\nwith an increase of 0.2 percent in the first (revised) (table 4). The PCE price index increased 1.9 percent,
\ncompared with an increase of 0.3 percent. Excluding food and energy prices, the PCE price index
\nincreased 1.7 percent, compared with an increase of 2.1 percent (Appendix table A).<\/p>\n
Disposition of personal income (table 10)<\/p>\n
Current-dollar personal income increased $111.4 billion in the second quarter, compared with an
\nincrease of $52.8 billion in the first (revised). The acceleration in personal income primarily reflected
\nupturns in wages and salaries, personal dividend income, and farm proprietors\u2019 income that were offset
\nby slowdowns in personal current transfer receipts.<\/p>\n
Disposable personal income increased $106.3 billion, or 3.1 percent, in the second quarter, compared
\nwith an increase of $83.4 billion, or 2.5 percent, in the first (revised). Real disposable personal income
\nincreased 1.2 percent, compared with an increase of 2.2 percent.<\/p>\n
Personal saving was $763.1 billion in the second quarter, compared with $847.8 billion in the first
\n(revised). The personal saving rate — personal saving as a percentage of disposable personal income —
\nwas 5.5 percent in the second quarter, compared with 6.1 percent in the first.<\/p>\n
Source Data for the Advance Estimate<\/p>\n
Information on the assumptions used for unavailable source data in the advance estimate is provided in
\na Technical Note that is posted with the news release on BEA\u2019s Web site. Within a few days after the
\nrelease, a detailed “Key Source Data and Assumptions” file is posted on the Web site. For information on
\nupdates to GDP, see the \u201cAdditional Information\u201d page at the back of this release.<\/p>\n
Revisions for the first quarter of 2016<\/p>\n
For the first quarter of 2016, real GDP is now estimated to have increased 0.8 percent; in the previously
\npublished estimates, first-quarter GDP was estimated to have increased 1.1 percent. The 0.3-percentage
\npoint downward revision to the percent change in first-quarter real GDP primarily reflected downward
\nrevisions to residential fixed investment, to private inventory investment, and to exports that were
\npartly offset by upward revisions to nonresidential fixed investment, to PCE, to state and local
\ngovernment spending, to imports, and to federal government spending.<\/p>\n
First Quarter 2016
\n Previous Estimate Revised
\n (Percent change from preceding quarter)
\nReal GDP 1.1 0.8
\nCurrent-dollar GDP 1.4 1.3
\nReal GDI 2.9 0.9
\nAverage of GDP and GDI 2.0 0.9
\nGross domestic purchases price index 0.2 0.2
\nPCE price index 0.2 0.3<\/p>\n
Annual Update of the National Income and Product Accounts<\/p>\n
Updated estimates of the national income and product accounts (NIPAs), which are usually made each
\nJuly, incorporate newly available and more comprehensive source data, as well as improved estimation
\nmethodologies. This year, the notable revisions primarily reflect the incorporation of newly available
\nand revised source data. The timespan of the revisions is the first quarter of 2013 through the first
\nquarter of 2016. The reference year remains 2009.<\/p>\n
With the release of the updated statistics, select NIPA tables will be available on BEA\u2019s Web site
\n(www.bea.gov). Shortly after the GDP release, BEA will post a table on its Web site showing the major
\ncurrent-dollar revisions and their sources for each component of GDP, national income, and personal
\nincome. Additionally, the August 2016 Survey of Current Business will contain an article describing these
\nrevisions.<\/p>\n
Real GDP (Tables 1A, 1B, and 2A)<\/p>\n
The updated statistics largely reflect the incorporation of newly available and revised source data (see
\nthe box below) and improvements to existing methodologies.<\/p>\n
* From 2012 to 2015, real GDP increased at an average annual rate of 2.2 percent; in the
\n previously published estimates, real GDP had increased at an average annual rate of 2.1 percent.
\n From the fourth quarter of 2012 to the first quarter of 2016, real GDP increased at an average
\n annual rate of 2.2 percent, the same as previously published.<\/p>\n
* The percent change in real GDP was revised up 0.2 percentage point for 2013, was the same as
\n previously published for 2014, and was revised up 0.2 percentage point for 2015.<\/p>\n
o For 2013, upward revisions to inventory investment, exports, and residential and
\n nonresidential fixed investment were partly offset by a downward revision to personal
\n consumption expenditures (PCE).<\/p>\n
o For 2014, a downward revision to inventory investment, an upward revision to imports,
\n and a downward revision to state and local government spending were offset by
\n upward revisions to exports, PCE, and residential fixed investment.<\/p>\n
o For 2015, upward revisions to state and local government spending and to residential
\n fixed investment, a downward revision to imports, and an upward revision to PCE were
\n partly offset by downward revisions to exports and nonresidential fixed investment.<\/p>\n
* The revisions to the annual estimates typically reflect partly offsetting revisions to the quarters
\n within the year.<\/p>\n
o For 2013, the annual rate of change in GDP was revised up 0.9 percentage point for the
\n first quarter, 0.1 percentage point for the third quarter, and 0.2 percentage point for the
\n fourth quarter; these upward revisions were partly offset by a downward revision of 0.3
\n percentage point for the second quarter.<\/p>\n
o For 2014, upward revisions of 0.7 percentage point for the third quarter and 0.2
\n percentage point for the fourth quarter were offset by downward revisions of 0.3
\n percentage point for the first quarter and 0.6 percentage point for the second quarter.<\/p>\n
o For 2015, an upward revision of 1.4 percentage point for the first quarter was partly
\n offset by downward revisions of 1.3 percentage point for the second quarter and 0.5
\n percentage point for the fourth quarter; the growth rate for the third quarter was the
\n same as previously published.<\/p>\n
* For the first quarter of 2013 through the first quarter of 2016, the average revision (without
\n regard to sign) in the percent change in real GDP was 0.5 percentage point. The revisions did
\n not change the direction of the change in real GDP (increase or decrease) for any of the
\n quarters.<\/p>\n
* For the period of economic expansion from the second quarter of 2009 to the first quarter of
\n 2016, real GDP increased at an average annual rate of 2.1 percent, the same as previously
\n published.<\/p>\n
* Current-dollar GDP was revised up for all 3 years: $28.4 billion, or 0.2 percent, for 2013; $45.0
\n billion, or 0.3 percent, for 2014; and $89.7 billion, or 0.5 percent, for 2015.<\/p>\n
Gross domestic income (GDI) and the statistical discrepancy (Tables 1A and 1B)<\/p>\n
* From 2012 to 2015, real GDI increased at an average annual rate of 2.3 percent; in the
\n previously published estimates, real GDI had increased at an average annual rate of 2.1 percent.
\n From the fourth quarter of 2012 to the first quarter of 2016, real GDI increased at an average
\n annual rate of 2.1 percent; in the previously published estimates, real GDI had increased at an
\n average annual rate of 2.2 percent.<\/p>\n
* The statistical discrepancy is current-dollar GDP less current-dollar GDI. GDP measures final
\n expenditures — the sum of consumer spending, private investment, net exports, and
\n government spending. GDI measures the incomes earned in the production of GDP. In concept,
\n GDP is equal to GDI. In practice, they differ because they are estimated using different source
\n data and different methods.<\/p>\n
* The statistical discrepancy as a percentage of GDP was revised up from -1.1 percent to -0.8
\n percent for 2013, was revised down from -1.2 percent to -1.5 percent for 2014, and was revised
\n down from -1.2 percent to -1.4 percent for 2015.<\/p>\n
* The average of GDP and GDI is a supplemental measure of U.S. economic activity. In real, or
\n inflation-adjusted, terms this measure increased at an average annual rate of 2.2 percent from
\n 2012 to 2015, an upward revision of 0.1 percentage point.<\/p>\n
Price measures<\/p>\n
* Gross domestic purchases – From the fourth quarter of 2012 to the first quarter of 2016, the
\n average annual rate of increase in the price index for gross domestic purchases was 1.0 percent,
\n the same as previously published.<\/p>\n
* Personal consumption expenditures – From the fourth quarter of 2012 to the first quarter of
\n 2016, the average annual rate of increase in the price index for PCE was 0.9 percent, the same
\n as previously published; the increase in the \u201ccore\u201d PCE price index (which excludes food and
\n energy) was 1.5 percent, the same as previously published.<\/p>\n
Income and saving measures (Table 1B)<\/p>\n
* National income was revised down $13.5 billion, or 0.1 percent, for 2013, was revised up $77.4
\n billion, or 0.5 percent, for 2014, and was revised up $119.0 billion, or 0.8 percent, for 2015.<\/p>\n
o For 2013, downward revisions to net interest and corporate profits were partly offset by
\n an upward revision to rental income of persons.<\/p>\n
o For 2014, upward revisions to corporate profits, business current transfer payments,
\n and supplements to wages and salaries were partly offset by downward revisions to
\n farm proprietors\u2019 income and to rental income of persons.<\/p>\n
o For 2015, upward revisions to corporate profits, business current transfer payments,
\n wages and salaries, nonfarm proprietors\u2019 income, and supplements to wages and
\n salaries, were partly offset by a downward revision to farm proprietors\u2019 income.<\/p>\n
* Corporate profits was revised down $4.5 billion, or -0.2 percent, for 2013, was revised up $79.1
\n billion, or 3.8 percent, for 2014, and was revised up $79.1 billion, or 3.9 percent, for 2015.<\/p>\n
* Personal income was revised up $5.3 billion, or less than 0.1 percent, for 2013, was revised up
\n $115.5 billion, or 0.8 percent, for 2014, and was revised up $107.8 billion, or 0.7 percent, for
\n 2015.<\/p>\n
* From 2012 to 2015, the average annual rate of growth of real disposable personal income was
\n revised up 0.2 percentage point from 1.6 percent to 1.8 percent.<\/p>\n
* The personal saving rate (personal saving as a percentage of disposable personal income) was
\n revised up from 4.8 percent to 5.0 percent for 2013, was revised up from 4.8 percent to 5.6
\n percent for 2014, and was revised up from 5.1 percent to 5.8 percent for 2015.<\/p>\n
New and revised source data<\/p>\n
The updated statistics incorporated data from the following major federal statistical sources:<\/p>\n
Agency Data Years Covered and Vintage<\/p>\n
Census Bureau Annual surveys of wholesale trade 2013 (revised), 2014 (new)
\n Annual surveys of retail trade 2013 (revised), 2014 (new)
\n Annual survey of manufactures 2013 (revised), 2014 (new)
\n Monthly indicators of manufactures,
\n merchant wholesale trade, and retail trade 2013\u20132015 (revised)
\n Service annual survey 2013 and 2014 (revised), 2015 (new)
\n Annual surveys of state and local
\n government finances Fiscal year (FY) 2013 (revised), FY 2014 (new)<\/p>\n
Monthly survey of construction spending
\n (value put in place) 2013\u20132015 (revised)
\n Quarterly services survey 2013\u20132015 (revised)
\n Current population survey\/housing vacancy
\n survey 2013 and 2014 (revised), 2015 (new)<\/p>\n
Office of Management
\n and Budget Federal Budget Fiscal years 2015 and 2016<\/p>\n
Internal Revenue Service Tabulations of tax returns for corporations 2013 (revised), 2014 (new)
\n Tabulations of tax returns for sole
\n proprietorships and partnerships 2014 (new)<\/p>\n
BLS Quarterly census of employment and wages 2013\u20132015 ( revised)
\n Survey of occupational employment 2015 (new)<\/p>\n
Department of
\nAgriculture Farm statistics 2013\u20132015 (revised)<\/p>\n
BEA International transactions accounts 2013-2015 (revised)<\/p>\n
Changes in methodology and presentation<\/p>\n
The annual update also incorporated improvements to estimating methodologies and to the
\npresentation of the NIPA estimates, including the following:<\/p>\n
* As part of its regular review and update of seasonal adjustment factors, BEA incorporated
\n refined and improved seasonal adjustments for several GDP components. For more information,
\n read Residual Seasonality in GDP and GDI: Findings and Next Steps at www.bea.gov\/national<\/p>\n
* Beginning with this advance estimate of GDP for the second quarter of 2016, BEA incorporates
\n newly available Census Bureau data on wholesale and retail trade inventories that are scheduled
\n to be released in time for the advance estimates of the NIPAs. BEA previously estimated inventories
\n for the quarter based on Census Bureau-reported inventory data for the first two months of the
\n quarter and BEA assumptions for the third month. The accelerated release of these data by the Census
\n Bureau allows BEA to calculate a more accurate estimate of the change in private inventories
\n component of GDP for the advance estimate.<\/p>\n
* In November 2015, the Census Bureau released revised monthly
\n estimates of construction spending for January 2005 through October 2015. BEA
\n uses these data to prepare annual estimates of private fixed investment for
\n residential structures. For this annual update, BEA incorporated revised
\n Census Bureau data into its annual estimates of residential improvements for
\n 2013 through 2015 on a best-change basis. Estimates for earlier years will be
\n revised during a future update of the NIPAs. For details, see the FAQ \u201cHow
\n will the revised Census Bureau construction spending data affect BEA\u2019s
\n quarterly and annual estimates of private fixed investment?\u201d<\/p>\n
* * *<\/p>\n
Next release: August 26, 2016 at 8:30 A.M. EDT
\n Gross Domestic Product: Second Quarter 2016 (Second Estimate)
\n Corporate Profits: Second Quarter 2016 (Preliminary Estimate)<\/p>\n
* * *<\/p>\n
Additional Information<\/p>\n
Resources<\/p>\n
Additional Resources available at www.bea.gov:
\n\u2022\tStay informed about BEA developments by reading the BEA blog, signing up for BEA\u2019s email
\n subscription service, or following BEA on Twitter @BEA_News.
\n\u2022\tHistorical time series for these estimates can be accessed in BEA\u2019s Interactive Data Application.
\n\u2022\tAccess BEA data by registering for BEA\u2019s Data Application Programming Interface (API).
\n\u2022\tFor more on BEA\u2019s statistics, see our monthly online journal, the Survey of Current Business.
\n\u2022\tBEA’s news release schedule
\n\u2022\tNIPA Handbook: Concepts and Methods of the U.S. National Income and Product Accounts<\/p>\n
Definitions<\/p>\n
Gross domestic product (GDP) is the value of the goods and services produced by the nation\u2019s economy
\nless the value of the goods and services used up in production. GDP is also equal to the sum of personal
\nconsumption expenditures, gross private domestic investment, net exports of goods and services, and
\ngovernment consumption expenditures and gross investment.<\/p>\n
Gross domestic income (GDI) is the sum of incomes earned and costs incurred in the production of GDP.
\nIn national economic accounting, GDP and GDI are conceptually equal. In practice, GDP and GDI differ
\nbecause they are constructed using largely independent source data. Real GDI is calculated by deflating
\ngross domestic income using the GDP price index as the deflator, and is therefore conceptually
\nequivalent to real GDP.<\/p>\n
Current-dollar estimates are valued in the prices of the period when the transactions occurred\u2014that is,
\nat \u201cmarket value.\u201d Also referred to as \u201cnominal estimates\u201d or as \u201ccurrent-price estimates.\u201d
\nReal values are inflation-adjusted estimates\u2014that is, estimates that exclude the effects of price changes.
\nThe gross domestic purchases price index measures the prices of final goods and services purchased by
\nU.S. residents.<\/p>\n
The personal consumption expenditure price index measures the prices paid for the goods and services
\npurchased by, or on the behalf of, \u201cpersons.\u201d<\/p>\n
Personal income is the income received by, or on behalf of, all persons from all sources: from
\nparticipation as laborers in production, from owning a home or business, from the ownership of
\nfinancial assets, and from government and business in the form of transfers. It includes income from
\ndomestic sources as well as the rest of world. It does not include realized or unrealized capital gains or
\nlosses.<\/p>\n
Disposable personal income is the income available to persons for spending or saving. It is equal to
\npersonal income less personal current taxes.<\/p>\n
Personal outlays is the sum of personal consumption expenditures, personal interest payments, and
\npersonal current transfer payments.<\/p>\n
Personal saving is personal income less personal outlays and personal current taxes.
\nThe personal saving rate is personal saving as a percentage of disposable personal income. (For a
\ncomparison of personal saving in BEA’s national income and product accounts (NIPAs) with personal
\nsaving in the Federal Reserve Board’s financial accounts of the United States, go to
\nwww.bea.gov\/national\/nipaweb\/nipa-frb.asp.<\/p>\n
Profits from current production, referred to as corporate profits with inventory valuation adjustment
\n(IVA) and capital consumption adjustment (CCAdj) in the NIPAs, is a measure of the net income of
\ncorporations before deducting income taxes that is consistent with the value of goods and services
\nmeasured in GDP. The IVA and CCAdj are adjustments that convert inventory withdrawals and
\ndepreciation of fixed assets reported on a tax-return, historical-cost basis to the current-cost economic
\nmeasures used in the national income and product accounts.<\/p>\n
For more definitions, see the Glossary: National Income and Product Accounts.<\/p>\n
Statistical conventions<\/p>\n
Annual rates. Quarterly values are expressed at seasonally-adjusted annual rates (SAAR), unless
\notherwise specified. Dollar changes are calculated as the difference between these SAAR values. For
\ndetail, see the FAQ \u201cWhy does BEA publish estimates at annual rates?\u201d<\/p>\n
Percent changes in quarterly series are calculated from unrounded data and are displayed at annual
\nrates, unless otherwise specified. For details, see the FAQ \u201cHow is average annual growth calculated?\u201d<\/p>\n
Quantities and prices. Quantities, or \u201creal\u201d volume measures, and prices are expressed as index
\nnumbers with a specified reference year equal to 100 (currently 2009). Quantity and price indexes are
\ncalculated using a Fisher-chained weighted formula that incorporates weights from two adjacent
\nperiods (quarters for quarterly data and annuals for annual data). \u201cReal\u201d dollar series are calculated by
\nmultiplying the published quantity index by the current dollar value in the reference year (2009) and
\nthen dividing by 100. Percent changes calculated from real quantity indexes and chained-dollar levels
\nare conceptually the same; any differences are due to rounding.<\/p>\n
Chained-dollar values are not additive because the relative weights for a given period differ from those
\nof the reference year. In tables that display chained-dollar values, a \u201cresidual\u201d line shows the difference
\nbetween the sum of detailed chained-dollar series and its corresponding aggregate.<\/p>\n
Updates to GDP<\/p>\n
BEA releases three vintages of the current quarterly estimate for GDP: “Advance” estimates are
\nreleased near the end of the first month following the end of the quarter and are based on source data
\nthat are incomplete or subject to further revision by the source agency; \u201csecond\u201d and \u201cthird\u201d estimates
\nare released near the end of the second and third months, respectively, and are based on more detailed
\nand more comprehensive data as they become available.<\/p>\n
Annual and comprehensive updates are typically released in late July. Annual updates generally cover at
\nleast the 3 most recent calendar years (and their associated quarters) and incorporate newly available
\nmajor annual source data as well as some changes in methods and definitions to improve the accounts.
\nComprehensive (or benchmark) updates are carried out at about 5-year intervals and incorporate major
\nperiodic source data, as well as major conceptual improvements.
\nThe table below shows the average revisions to the quarterly percent changes in real GDP between
\ndifferent estimate vintages, without regard to sign.<\/p>\n
Vintage Average Revision Without Regard to Sign
\n (percentage points, annual rates)
\nAdvance to second 0.5
\nAdvance to third 0.6
\nSecond to third 0.2
\nAdvance to latest 1.2
\nNote – Based on estimates from 1993 through 2014. For more information on GDP updates, see Revision
\nInformation on the BEA Web site.<\/p>\n
The larger average revision from the advance to the latest estimate reflects the fact that periodic
\ncomprehensive updates include major statistical and methodological improvements.<\/p>\n
Unlike GDP, an advance current quarterly estimate of GDI is not released because data on domestic
\nprofits and on net interest of domestic industries are not available. For fourth quarter estimates, these
\ndata are not available until the third estimate.<\/p>\n","protected":false},"excerpt":{"rendered":"
Washington, DC…Real gross domestic product increased at an annual rate of 1.2 percent in the second quarter of 2016 (table 1), according to the “advance” estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 0.8 percent (revised). The Bureau emphasized that the second-quarter advance estimate released today is based […]<\/p>\n","protected":false},"author":1,"featured_media":22419,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_cbd_carousel_blocks":"[]","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,20,5,1],"tags":[],"class_list":["post-22418","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-featured","category-government","category-news","last_archivepost"],"jetpack_featured_media_url":"https:\/\/new.thepinetree.net\/wp-content\/uploads\/2016\/07\/gdp2q16_adv_chart.png","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/22418","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22418"}],"version-history":[{"count":0,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/22418\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/media\/22419"}],"wp:attachment":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22418"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22418"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22418"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}