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Economy

Economic Data (USA)

Friday, December 21, 2018

Gross Domestic Product (GDP): Third (Final) Estimate for Q3, 2018

Earlier this morning, the Commerce Department's Bureau of Economic Analysis (BEA) released its third and final estimate for U.S. Real Gross Domestic Product (GDP) for the third quarter of 2018 :

Predicted: +3.5%
Actual: +3.4%

The yellow-highlighted percentage represents the quarter-to-quarter change for Real Gross Domestic Product for the entire United States.

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"...Corporate Profits

Profits from current production (corporate profits with inventory valuation and capital consumption adjustments) increased $78.2 billion in the third quarter, compared with an increase of $65.0 billion in the second quarter.

Profits of domestic financial corporations decreased $6.1 billion in the third quarter, in contrast to an increase of $16.5 billion in the second quarter. Profits of domestic nonfinancial corporations increased $83.0 billion, compared with an increase of $53.0 billion. Rest-of-the-world  profits increased $1.3 billion, in contrast to a decrease of $4.5 billion. In the third quarter, receipts decreased $9.5 billion, and payments decreased $10.8 billion..."

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Chart: GDP, Third Quarter 2018, Third / Final Estimate
Chart: GDP, Third Quarter 2018, Third / 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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