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Economy

Economic Data (USA)

Wednesday, August 30, 2017

Gross Domestic Product (GDP): Second Estimate for Q2, 2017

The U.S. Gross Domestic Product (GDP) "preliminary" (second estimate) report for the second quarter of 2017 was released this morning by the Commerce Department's Bureau of Economic Analysis (BEA):

Predicted: +2.8%
Actual: +3.0%

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 (Preliminary Estimate, Second Quarter 2017)

Profits from current production (corporate profits with inventory valuation adjustment and capital consumption adjustment) increased $26.8 billion in the second quarter, in contrast to a decrease of $46.2 billion in the first quarter.

Profits of domestic financial corporations decreased $29.4 billion in the second quarter, compared with a decrease of $40.7 billion in the first quarter. Profits of domestic nonfinancial corporations increased $64.8 billion, compared with an increase of $3.8 billion. The rest-of-the-world component of profits decreased $8.6 billion, compared with a decrease of $9.3 billion. This measure is calculated as the difference between receipts from the rest of the world and payments to the rest of the world. In the second quarter, receipts increased $8.5 billion, and payments increased $17.1 billion..."

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GDP, Second Quarter 2017, Preliminary (Second Estimate)
GDP, Second Quarter 2017, Preliminary (Second Estimate)

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  • On September 28, 2017, a "final" GDP estimate will be released by the BEA, which will contain the most accurate and authoritative data for the second quarter of  2017.

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."


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