BEA Releases Advance Estimate of Third Quarter GDP (Oct. 2017)
The Bureau of Economic Analysis released its “advance” estimate of third quarter 2017 Gross Domestic Product. The advance estimate is based on source data that is subject to further revision.
The advance estimate shows that real GDP increased at an annual rate of 3.0 percent during the third quarter of 2017. In the second quarter of 2016, real GDP increased 3.1 percent (revised).
The increase in real GDP in the second quarter reflected increases in personal consumption expenditures, private inventory investment, nonresidential fixed investment, exports, and federal government spending. These increases were partly offset by a decrease in residential fixed investment and state and local government spending. Imports, which is subtracted in the GDP calculation, decreased.
The full BEA press release on the advance estimate of third quarter GDP can be accessed in the link below:
The next release—for the second estimate of third quarter GDP 2017 and for the preliminary estimate of corporate profits will be released on November 29, 2017.