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Economy

Economic Data (USA)

Thursday, August 29, 2019

Gross Domestic Product (GDP): Second Estimate for Q2, 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 second quarter of 2019 :

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Predicted: +2.0%
  • Actual: +2.0%

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 $105.8 billion in the second quarter, in contrast to a decrease of $78.7 billion in the first quarter.

Profits of domestic financial corporations increased $4.0 billion in the second quarter, compared with an increase of $22.2 billion in the first quarter. Profits of domestic nonfinancial corporations increased $43.5 billion, in contrast to a decrease of $108.2 billion. Rest-of-the-world profits increased $58.3 billion, compared with an increase of $7.3 billion. In the second quarter, receipts increased $39.9 billion, and payments decreased $18.5 billion..."

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GDP, Second Quarter 2019, Second Estimate
GDP, Second Quarter 2019, Second Estimate

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  • On September 26, 2019 a third and "final" GDP estimate will be released by the BEA, which will contain the most accurate and authoritative data for the second 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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