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Economy

Economic Data (USA)

Thursday, May 30, 2019

Gross Domestic Product (GDP): Second Estimate for Q1, 2019

Earlier this morning, the Commerce Department's Bureau of Economic Analysis (BEA) released its second estimate for U.S. Real Gross Domestic Product (GDP) for the first quarter of 2019 :

Predicted: +3.0%
Actual: +3.1%

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) decreased $65.4 billion in the first quarter, compared with a decrease of $9.7 billion in the fourth quarter.

Profits of domestic financial corporations increased $7.4 billion in the first quarter, in contrast to a decrease of $25.2 billion in the fourth quarter. Profits of domestic nonfinancial corporations decreased $62.1 billion, in contrast to an increase of $13.6 billion. Rest-of-the-world profits decreased $10.7 billion, in contrast to an increase of $1.9 billion. In the first quarter, receipts increased $4.0 billion, and payments increased $14.8 billion..."

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GDP, First Quarter 2019, Second Estimate
GDP, First Quarter 2019, Second Estimate
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  • On June 27, 2019, a third and "final" GDP estimate will be released by the BEA, which will contain the most accurate and authoritative data for the first quarter of  2019.

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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