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Economy

Economic Data (USA)

Thursday, December 21, 2017

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

U.S. Gross Domestic Product (GDP) "final" (third 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: +3.2%

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

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Corporate Profits

Profits from current production (corporate profits with inventory valuation adjustment and capital
consumption adjustment) increased $90.2 billion in the third quarter, compared with an increase of
$14.4 billion in the second quarter.

Profits of domestic financial corporations increased $47.8 billion in the third quarter, in contrast to a decrease of $33.8 billion in the second. Profits of domestic nonfinancial corporations increased $10.4 billion, compared with an increase of $59.1 billion. Rest-of-the-world  profits increased $32.0 billion, in contrast to a decrease of $10.8 billion. In the third quarter, receipts increased $26.9 billion, and payments decreased $5.2 billion.

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GDP, Third Quarter 2017, Final Estimate
GDP, Third Quarter 2017, Final Estimate

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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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