05.27.2016
The Bureau of Economic Analysis has released its second estimate of first quarter 2016 GDP along with its preliminary estimate of first quarter corporate profits.
This second estimate based on more complete data shows GDP increasing at an annual rate of 0.8% during the first quarter up from the advance estimate of 0.5% yet still a deceleration from the fourth quarter of 2015 which saw GDP increasing at an annual rate of 1.4%. The second estimate has a smaller decrease in private inventory investment than the advance estimate contributing to the larger growth rate.
The preliminary corporate profit estimate for the first quarter shows an increase of $6.5 billion which contrasts greatly with the $159.6 billion decrease seen in the fourth quarter of 2015.
The full report is available via the link below:
