BEA Releases Third Estimate of Q1 GDP and Revised Corporate Profits Estimate (June 2016)
The Bureau of Economic Analysis has released its third estimate of first quarter 2016 gross domestic product and revised estimate of first quarter corporate profits.
The third estimate of GDP, based on more complete data, shows GDP increasing at an annual rate of 1.1%, which is up from 0.8% in the second estimate and 0.5% in the advance estimate. This is still a slight deceleration, however, from fourth quarter 2015, which saw GDP increasing at an annual rate of 1.4%. The data used in the third estimate paint a similar general economic picture, but show an increase in exports.
The revised estimate of corporate profits shows a greater increase of $34.7 billion, which is up from the preliminary estimate of $6.5 billion. This increase shows a great contrast with the $159.6 billion decrease seen in the fourth quarter of 2015.
The full report is accessible via the link below: