BEA Releases Final Estimate of Q1 2017 GDP and Corporate Profits (June 2017)
The Bureau of Economic Analysis (BEA) released its third estimate of first quarter 2017 GDP along with its revised estimate of corporate profits on June 29, 2017.
Real GDP increased at an annual rate of 1.4 percent in Q1 2017, down from a 2.1 percent increase seen in Q4 2016. This decrease is the result of reduced government spending, increased imports, and a reduction in private investment, among other factors.
Corporate profits decreased by $48.4 billion, down from a Q4 2016 increase of $11.2 billion.
The next release—the advance estimate of Q2 2017 GDP—is scheduled to be released on July 28.
The full text of this release is available in the PDF below: