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Economy

Economic Data (USA)

Wednesday, November 29, 2017

Gross Domestic Product (GDP): Second Estimate for Q3, 2017

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

Predicted: +3.3%
Actual: +3.3%

The highlighted percentage represents the quarter-to-quarter change in the Gross Domestic Product for the United States (preliminary = second estimate.)

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"...Corporate Profits

Profits from current production (corporate profits with inventory valuation adjustment and capital consumption adjustment) increased $91.6 billion in the third quarter, compared with an increase of $14.4 billion in the second quarter.

Profits of domestic financial corporations increased $60.6 billion in the third quarter, in contrast to a decrease of $33.8 billion in the second quarter. Profits of domestic non-financial corporations increased $12.5 billion, compared with an increase of $59.1 billion. Rest-of-the-world profits increased $18.6..."

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

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  • On December 21, 2017, a "final" GDP estimate will be released by the BEA, which will contain the most accurate and authoritative data for the third 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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