BEA Releases Third Estimate of Fourth Quarter GDP and Fourth Quarter Corporate Profits (Mar. 2018)
The Bureau of Economic Analysis released its “third” estimate of fourth quarter 2017 Gross Domestic Product. The third estimate is based on data that is more complete than the “advance” and “second” estimates. The third estimate shows that real GDP increased at an annual rate of 2.9 percent during the fourth quarter of 2017.
The increase in real GDP in the fourth quarter reflected increases in personal consumption expenditures, nonresidential fixed investment, exports, residential fixed investment, federal government spending, and state and local government spending. These increases were partly offset by a decrease in private inventory investment. Imports, which is subtracted in the GDP calculation, increased.
Corporate profits decreased $1.1 billion in the fourth quarter, compared to an increase of $90.2 billion in the third quarter of 2017.
The full BEA press release on the second estimate of fourth quarter GDP can be accessed in the link below:
The next release—for the advance estimate of first quarter GDP 2018 will be released on April 27, 2018.