BEA Releases Second Estimate of Third Quarter GDP and Preliminary Estimate of Corporate Profits (Nov. 2017)
The Bureau of Economic Analysis released its “second” estimate of third quarter 2017 Gross Domestic Product. The advance estimate is based on more complete source data than the advance estimate.
The second estimate shows that real GDP increased at an annual rate of 3.3 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, and exports. 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 $91.6 billion in the third quarter, compared to an increase of $14.4 billion in the second quarter.
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 third estimate of third quarter GDP 2017 and for the revised estimate of corporate profits will be released on December 21, 2017.