BEA Releases Third Estimate of Third Quarter GDP and Revised Estimate of Third Quarter Corporate Profits (Dec. 2017)
The Bureau of Economic Analysis released its “third” estimate of third quarter 2017 Gross Domestic Product. The third estimate is based on more complete data than the “second” estimate. The third estimate shows that real GDP increased at an annual rate of 3.1 percent during the third quarter of 2017.
The increase in real GDP in the third quarter reflected increases in personal consumption expenditures, private inventory investment, nonresidential fixed investment, exports, federal government spending, and state and local government spending. These increases were partly offset by a decrease in residential fixed investment. Imports, which is subtracted in the GDP calculation, decreased.
Corporate profits from current production increased $90.2 billion in the third quarter, compared to an increase of $14.4 billion in the second quarter.
The full BEA press release on the third estimate of third quarter GDP can be accessed in the link below:
The next release—for the advance estimate of fourth quarter GDP 2017 will be released on January 26, 2018.