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Posted by: thepinetree on 09/27/2018 06:42 AM Updated by: thepinetree on 09/27/2018 06:42 AM
Expires: 01/01/2023 12:00 AM
:

Gross Domestic Product, 2nd quarter 2018 (third estimate); Corporate Profits, 2nd quarter 2018 (revised estimate)

Washington, DC...Real gross domestic product (GDP) increased at an annual rate of 4.2 percent in the second quarter of 2018 (table 1), according to the "third" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 2.2 percent. The GDP estimate released today is based on more complete source data than were available for the "second" estimate issued last month. In the second estimate, the increase in real GDP was also 4.2 percent. With this third estimate for the second quarter, the general picture of economic growth remains the same; a downward revision to private inventory investment was offset by small upward revisions to most other GDP components.




Imports which are a subtraction in the calculation of GDP, were revised down slightly (see "Updates to GDP" on page 2).

Real GDP Percent Change
Real gross domestic income (GDI) increased 1.6 percent in the second quarter, compared with an increase of 3.9 percent in the first quarter. The average of real GDP and real GDI, a supplemental measure of U.S. economic activity that equally weights GDP and GDI, increased 2.9 percent in the second quarter, compared with an increase of 3.1 percent in the first quarter (table 1).

The increase in real GDP in the second quarter reflected positive contributions from PCE, nonresidential fixed investment, exports, federal government spending, and state and local government spending that were partly offset by negative contributions from private inventory investment and residential fixed investment. Imports decreased (table 2).

The acceleration in real GDP growth in the second quarter reflected accelerations in PCE, exports, federal government spending, and state and local government spending, as well as a smaller decrease in residential fixed investment. These movements were partly offset by a downturn in private inventory investment and a deceleration in nonresidential fixed investment. Imports decreased after increasing in the first quarter.

Current-dollar GDP increased 7.6 percent, or $370.9 billion, in the second quarter to a level of $20.41 trillion. In the first quarter, current-dollar GDP increased 4.3 percent, or $209.2 billion (table 1 and table 3).

The price index for gross domestic purchases increased 2.4 percent in the second quarter, compared with an increase of 2.5 percent in the first quarter (table 4). The PCE price index increased 2.0 percent, compared with an increase of 2.5 percent. Excluding food and energy prices, the PCE price index increased 2.1 percent, compared with an increase of 2.2 percent.

Updates to GDP

The percent change in real GDP was unrevised from the second estimate, reflecting a downward revision to private inventory investment that was offset by upward revisions to state and local government spending, PCE, nonresidential fixed investment, exports, and residential fixed investment. Imports were revised down slightly. For more information, see the Technical Note. A detailed "Key Source Data and Assumptions" file is also posted for each release. For information on updates to GDP, see the "Additional Information" section that follows.

Advance Estimate Second Estimate Third Estimate
(Percent change from preceding quarter)
Real GDP 4.1 4.2 4.2
Current-dollar GDP 7.4 7.6 7.6
Real GDI … 1.8 1.6
Average of Real GDP and Real GDI … 3.0 2.9
Gross domestic purchases price index 2.3 2.3 2.4
PCE price index 1.8 1.9 2.0
Corporate Profits (table 10)

Profits from current production (corporate profits with inventory valuation and capital consumption adjustments) increased $65.0 billion in the second quarter, compared with an increase of $26.7 billion in the first quarter.

Profits of domestic financial corporations increased $16.5 billion in the second quarter, in contrast to a decrease of $9.3 billion in the firstquarter. Profits of domestic nonfinancial corporations increased $53.0 billion, compared with an increase of $32.3 billion. Rest-of-the-world profits decreased $4.5 billion, in contrast to an increase of $3.7 billion. In the second quarter, receipts increased $0.5 billion, and payments increased $5.0 billion.

* * *

Next release: October 26, 2018 at 8:30 A.M. EDT
Gross Domestic Product: Third Quarter 2018 (Advance Estimate)

* * *


Comments - Make a comment
The comments are owned by the poster. We are not responsible for its content. We value free speech but remember this is a public forum and we hope that people would use common sense and decency. If you see an offensive comment please email us at news@thepinetree.net
FAKE NEWS
Posted on: 2018-09-27 07:01:12   By: Anonymous
 
You cannot believe anything that comes out of the Trump Administration. Trump is a known liar. And pine tree, quit trying to counter the bad news on Trump by posting a bunch of baloney that sounds good.

[Reply ]

    Re: FAKE NEWS
    Posted on: 2018-09-27 07:03:02   By: Anonymous
     
    Profanity

    [Reply ]

      Re: FAKE NEWS
      Posted on: 2018-09-27 07:44:02   By: Anonymous
       
      Then go somewhere else and read your news, the 🌎 doesn't revolve you
      and your continuing 😢, whining & complaining 24/7/365 days a year.
      Maybe you two should head over to Angels Camp, go in McDonald's and order a Happy Meal. Then head over to CVS for your diapers and for goodness sakes pick up some extra strength Midol and a box Or two of tissue for your tears and the snot on your faces.


      [Reply ]

        Re: FAKE NEWS
        Posted on: 2018-09-27 10:05:37   By: Anonymous
         
        Oh, look. Someone just learned where his emojis are on his or her smart phone.

        [Reply ]

          Re: FAKE NEWS
          Posted on: 2018-09-27 16:26:45   By: Anonymous
           
          President Trump IS Making America Great Again!
          Every Real Patriotic American has more money and enjoys life better than the Obongo years.

          [Reply ]


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