Gross Domestic Product (GDP): Second Estimate for Q3, 2016

U.S. Gross Domestic Product (GDP) "preliminary" (second estimate) report for the third quarter of 2016 was released this morning by the Commerce Department's Bureau of Economic Analysis (BEA):

Predicted: +3.1%
Actual: +3.2%

The highlighted percentage represents the quarter-to-quarter change in the Gross Domestic Product for the United States (preliminary = second estimate.)  The "predicted" figure is what economists were expecting, while the "actual" is the actual or real figure.

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Corporate Profits

Actual: +5.2% (After Tax; Y/Y)

Profits from current production (corporate profits with inventory valuation adjustment and capital consumption adjustment) increased $133.8 billion in the third quarter, in contrast to a decrease of $12.5 billion in the second.

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GDP, Third Quarter 2016, Second Estimate

• On December 22, 2016, a "final" GDP report will be released by the BEA, which will contain the most accurate and authoritative data for the third quarter of  2016.

The GDP is a very broad measure of economic activity for the entire United States, covering all sectors of the economy. The Commerce Department defines real GDP as, "the output of goods and services produced by labor and property located in the United States."

• Click here to view the full Commerce Department report (PDF). 

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