Skip to main content

Gross Domestic Product Second Quarter 2019 (Third Estimate) | Corporate Profits, Second Quarter 2019 (Revised).

4-5 minutes - Source: BEA



Real gross domestic product (GDP) increased at an annual rate of 2.0 percent in the second quarter of 2019 (table 1), according to the "third" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 3.1 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 2.0 percent. Downward revisions to personal consumption expenditures (PCE) and nonresidential fixed investment were primarily offset by upward revisions to state and local government spending and exports. Imports, which are a subtraction in the calculation of GDP, were revised down (see "Updates to GDP" on page 2).
Real GDP: Percent change from preceding quarter
The increase in real GDP in the second quarter reflected positive contributions from PCE, federal government spending, and state and local government spending that were partly offset by negative contributions from private inventory investment, exports, nonresidential fixed investment, and residential fixed investment (table 2).
The deceleration in real GDP in the second quarter primarily reflected downturns in inventory investment, exports, and nonresidential fixed investment. These downturns were partly offset by accelerations in PCE and federal government spending.
Real gross domestic income (GDI) increased 1.8 percent in the second quarter, compared with an increase of 3.2 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 1.9 percent in the second quarter, compared with an increase of 3.2 percent in the first quarter (table 1).
Current-dollar GDP increased 4.7 percent, or $241.5 billion, in the second quarter to a level of $21.34 trillion. In the first quarter, current-dollar GDP increased 3.9 percent, or $201.0 billion (tables 1 and 3).
The price index for gross domestic purchases increased 2.2 percent in the second quarter, compared with an increase of 0.8 percent in the first quarter (table 4). The PCE price index increased 2.4 percent, compared with an increase of 0.4 percent. Excluding food and energy prices, the PCE price index increased 1.9 percent, compared with an increase of 1.1 percent.
Updates to GDP
The second-quarter percent change in real GDP was the same as previously estimated. Downward revisions to PCE and nonresidential fixed investment were primarily offset by upward revisions to state and local government spending and exports, and a downward revision to imports. 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 2.1 2.0 2.0
Current-dollar GDP 4.6 4.6 4.7
Real GDI 2.1 1.8
Average of Real GDP and Real GDI 2.1 1.9
Gross domestic purchases price index 2.2 2.2 2.2
PCE price index 2.3 2.3 2.4
Corporate Profits
Profits from current production (corporate profits with inventory valuation and capital consumption adjustments) increased $75.8 billion in the second quarter, in contrast to a decrease of $78.7 billion in the first quarter (table 10).
Profits of domestic financial corporations increased $2.5 billion in the second quarter, compared with an increase of $22.2 billion in the first quarter. Profits of domestic nonfinancial corporations increased $34.7 billion, in contrast to a decrease of $108.2 billion. Rest-of-the-world profits increased $38.7 billion, compared with an increase of $7.3 billion. In the second quarter, receipts increased $25.3 billion, and payments decreased $13.4 billion.
*          *          *
Next release:  October 30, 2019 at 8:30 A.M. EDT
Gross Domestic Product, Third Quarter 2019 (Advance Estimate)

Comments

Popular posts from this blog

Analysis | The Cybersecurity 202: How the shutdown could make it harder for the government to retain cybersecurity talent

By Joseph Marks 13-17 minutes THE KEY President Trump delivers an address about border security amid a partial government shutdown on Jan. 8. (Carolyn Kaster/AP) The partial government shutdown that's now in its 18th day is putting key cyber policy priorities on hold and leaving vital operations to a bare bones staff. But the far greater long-term danger may be the blow to government cyber defenders' morale, former officials warn. With the prospect of better pay and greater job security in the private sector, more government cyber operators are likely to decamp to industry, those former officials tell me, and the smartest cybersecurity graduates will look to industry rather than government to hone their skills. That’s especially dangerous, they say, considering the government’s struggle to recruit and retain skilled workers amid a nationwide shortage of cybersecurity talent. About 20 percent of staffers are furloughed at the De

9 High-Octane Stocks Poised to Rise Higher I Investopedia

investopedia.com 9 High-Octane Stocks Poised to Rise Higher Shoshanna Delventhal Investors seeking dramatically above-average returns in growth stocks might look at companies including Logitech International ( LOGI ), Redfin ( RDFN ), Dunkin' Brands Group ( DNKN ), Paycom Software ( PAYC ), Bio-Techne ( TECH ), Expedia Group Inc. ( EXPE ), J2 Global ( JCOM ), Cars.com  ( CARS ) and Wix.com  ( WIX ), all of them picks of the outperforming Jackson Square SMID-Cap Growth fund, as outlined in a recent Barron's story . The $509 million fund, which is the leader in its mid-cap growth category on Morningstar, has dramatically beaten the market by posting an average 16% return over the last decade. Over the past year, the fund's 28% return has beaten 94% of its peers. (For more, see also: Best Performing S&P 500 Stocks So Far in 2018 . ) “I like to sit back and think—about w