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Economy

Economic Data (USA)

Thursday, June 28, 2018

Gross Domestic Product (GDP): Final Estimate for Q1, 2018

U.S. Gross Domestic Product (GDP) "final" (third estimate) report for the first quarter of 2018 was released this morning by the Commerce Department's Bureau of Economic Analysis (BEA):

Predicted: +2.2%
Actual: +2.0%

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 $39.5 billion in the first quarter, in contrast to a decrease of $1.1 billion in the fourth quarter.

Profits of domestic financial corporations increased $7.0 billion in the first quarter, in contrast to a decrease of $14.6 billion in the fourth quarter. Profits of domestic nonfinancial corporations increased$28.8 billion, compared with an increase of $19.4 billion. Rest-of-the-world  profits increased $3.7 billion, in contrast to a decrease of $5.9 billion. In the first quarter, receipts increased $20.9 billion, and payments increased $17.2 billion..."
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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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