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August 29, 2024 2024Q2 (Second Estimate) Comparisons -- Percent Change from Preceding Period in Real Gross Domestic Product and Related Measures [Percent] Seasonally adjusted at annual rates Gross domestic product (GDP) Personal consumption expenditures Goods Durable goods Nondurable goods Services Gross private domestic investment Fixed investment Nonresidential Structures Equipment Intellectual property products Residential Change in private inventories Net exports of goods and services Exports Goods Services Imports Goods Services Government consumption expenditures and gross investment Federal National defense Nondefense State and local Addenda: Final sales of domestic product Gross domestic purchases Final sales to domestic purchasers Final sales to private domestic purchasers Gross domestic income (GDI) Average of GDP and GDI Gross national product (GNP) Disposable personal income Current-dollar measures: GDP Final sales of domestic product Gross domestic purchases Final sales to domestic purchasers Final sales to private domestic purchasers GDI Average of GDP and GDI GNP Disposable personal income Chain-type price measures: Gross domestic purchases Gross domestic purchases excluding food and energy GDP GDP excluding food and energy GDP implicit price deflator PCE PCE excluding food and energy Market-based PCE Market-based PCE excluding food and energy Source: U.S. Bureau of Economic Analysis 2024Q2 % change 3.0 2.9 3.0 4.9 2.0 2.9 7.5 3.0 4.6 -1.6 10.8 2.6 -2.0 ............................ ............................ 1.6 1.3 2.2 7.0 7.8 3.6 2.7 3.3 4.9 1.2 2.3 2.2 3.6 2.9 2.9 1.3 2.1 2.6 1.0 Last period with Last period with Last period with equal value larger value smaller value 1996Q1 3.0 2023Q4 3.4 2024Q1 1.4 2018Q1 2.9 2023Q4 3.3 2024Q1 1.5 2023Q4 3.0 2023Q3 4.9 2024Q1 -2.3 1999Q4 4.9 2023Q3 6.7 2024Q1 -4.5 1995Q2 2.0 2023Q4 2.9 2024Q1 -1.1 2019Q4 2.9 2024Q1 3.3 2023Q3 2.2 ................ ................ 2023Q3 10.0 2024Q1 4.4 2016Q2 3.0 2024Q1 7.0 2023Q3 2.6 2018Q2 4.6 2023Q2 7.4 2024Q1 4.4 2005Q2 -1.6 2024Q1 3.4 2021Q4 -7.7 1994Q3 10.8 2022Q1 16.8 2024Q1 1.6 1987Q1 2.6 2024Q1 7.7 2023Q3 1.8 2000Q2 -2.0 2024Q1 16.0 2023Q2 -2.2 .................. .................. .................. .................. .................. .................. .................. .................. .................. .................. .................. .................. 2024Q1 1.6 2023Q4 5.1 2023Q2 -9.3 2019Q4 1.3 2023Q4 6.2 2024Q1 -0.5 ................. ................. 2024Q1 5.9 2023Q3 1.0 ................. ................. 2022Q1 14.7 2024Q1 6.1 2002Q3 7.8 2022Q1 14.5 2024Q1 6.5 1998Q4 3.6 2024Q1 4.3 2023Q3 -2.8 2014Q3 2.7 2023Q4 4.6 2024Q1 1.8 2019Q1 3.3 2023Q3 7.1 2024Q1 -0.2 1984Q2 4.9 2023Q3 8.4 2024Q1 -0.9 ................. ................. 2023Q4 4.8 2024Q1 0.6 2007Q1 2.3 2024Q1 3.0 2022Q2 -0.8 2012Q4 1985Q4 2021Q4 1991Q2 2024Q1 2019Q2 2011Q2 1982Q1 2.2 3.6 2.9 2.9 1.3 2.1 2.6 1.0 2023Q4 2023Q3 2023Q4 2023Q4 2023Q4 2023Q4 2023Q4 2024Q1 3.9 4.7 3.5 3.3 3.6 3.5 3.3 1.3 2024Q1 2024Q1 2024Q1 2024Q1 2023Q2 2024Q1 2024Q1 2023Q4 1.8 2.0 2.4 2.6 0.5 1.4 1.2 0.9 5.5 2013Q3 5.5 4.7 2019Q4 4.7 6.2 2018Q1 6.2 5.4 ................. ................. 5.5 2023Q3 5.5 3.8 2007Q1 3.8 4.7 2017Q3 4.7 5.2 2006Q4 5.2 3.6 1958Q2 3.6 2023Q3 2024Q1 2023Q3 2024Q1 2024Q1 2024Q1 2023Q4 2023Q3 2024Q1 8.3 5.1 7.7 5.7 5.6 4.5 5.2 8.1 4.8 2024Q1 2023Q2 2024Q1 2023Q2 2023Q4 2023Q2 2024Q1 2024Q1 2023Q4 4.5 3.9 5.2 3.4 5.3 2.1 4.5 4.3 2.7 2.4 2.6 2.5 2.7 2.5 2.5 2.8 2.1 2.3 2024Q1 2024Q1 2024Q1 2024Q1 2024Q1 2024Q1 2024Q1 2024Q1 2024Q1 3.1 3.3 3.1 3.2 3.1 3.4 3.7 2.8 3.1 2023Q4 2023Q4 2023Q4 2023Q4 2023Q4 2023Q4 2023Q4 2023Q4 2023Q3 1.9 2.1 1.6 2.4 1.7 1.8 2.0 2.0 1.9 2017Q4 2012Q1 2012Q3 2018Q2 2017Q4 2023Q2 2007Q4 2017Q1 2023Q4 2.4 2.6 2.5 2.7 2.5 2.5 2.8 2.1 2.3 August 29, 2024 2024Q2 (Second Estimate) Comparisons -- Contributions to Percent Change in Real Gross Domestic Product 2024Q2 contribution Percent change at annual rate: Gross domestic product Percentage points at annual rates: Personal consumption expenditures Goods Durable goods Nondurable goods Services Gross private domestic investment Fixed investment Nonresidential Structures Equipment Intellectual property products Residential Change in private inventories Net exports of goods and services Exports Goods Services Imports Goods Services Government consumption expenditures and gross investment Federal National defense Nondefense State and local Source: U.S. Bureau of Economic Analysis Last period with equal value Last period with larger value Last period with smaller value 1996Q1 3.0 2023Q4 3.4 2024Q1 1.4 1.95 2010Q3 1.95 0.65 2010Q1 0.65 0.37 2017Q2 0.37 0.28 2001Q2 0.28 1.30 1974Q4 1.30 1.31 ................ ................ 0.53 2023Q1 0.53 0.61 2017Q2 0.61 -0.05 2005Q3 -0.05 0.52 2013Q1 0.52 0.14 2007Q1 0.14 -0.08 1989Q3 -0.08 0.78 ................. ................. -0.77 1992Q4 -0.77 0.17 2024Q1 0.17 0.09 ................. ................. 0.08 2021Q1 0.08 -0.94 2015Q1 -0.94 -0.85 1984Q4 -0.85 -0.09 2001Q2 -0.09 0.46 2019Q4 0.46 0.21 2019Q1 0.21 0.18 1979Q4 0.18 0.03 2003Q1 0.03 0.25 2008Q3 0.25 2023Q4 2023Q4 2023Q3 2023Q4 2024Q1 2023Q3 2024Q1 2023Q2 2024Q1 2022Q1 2024Q1 2024Q1 2023Q3 2024Q1 2023Q4 2023Q4 2024Q1 2024Q1 2024Q1 2023Q3 2023Q4 2023Q3 2023Q3 2023Q4 2024Q1 2.20 0.67 0.53 0.41 1.49 1.74 1.19 0.98 0.10 0.77 0.41 0.59 1.27 -0.65 0.55 0.45 0.21 -0.82 -0.71 0.08 0.79 0.45 0.30 0.14 0.33 2024Q1 2024Q1 2024Q1 2024Q1 2023Q3 2024Q1 2023Q3 2024Q1 2021Q4 2024Q1 2023Q3 2023Q2 2024Q1 2022Q1 2023Q2 2024Q1 2023Q3 2022Q1 2022Q1 2024Q1 2024Q1 2024Q1 2024Q1 2024Q1 2022Q2 0.98 -0.51 -0.35 -0.15 1.02 0.77 0.46 0.59 -0.21 0.08 0.10 -0.09 -0.42 -2.59 -1.09 -0.04 0.04 -2.08 -1.72 -0.11 0.31 -0.02 -0.03 0.02 -0.08 3.0 August 29, 2024 2024Q2 (Preliminary Estimate) Comparisons -- Corporate Profits: Level Change and Percent Change Last period with 2024Q2 change equal value Dollar change from preceding quarter Last period with larger value Last period with smaller value Corporate profits with IVA and CCAdj Profits after tax with IVA and CCAdj Profits before tax without IVA and CCAdj Profits after tax without IVA and CCAdj Net cash flow with IVA 57.6 ................ ................ 47.1 ................. ................. 71.1 ................. ................. 60.7 ................. ................. 109.5 ................. ................. Percent change from preceding quarter (quarterly rates) 2023Q4 2023Q4 2024Q1 2024Q1 2023Q4 133.5 105.2 101.1 71.9 118.2 2024Q1 2024Q1 2023Q2 2023Q2 2024Q1 -47.1 -76.3 15.5 21.8 -100.2 Corporate profits with IVA and CCAdj Profits after tax with IVA and CCAdj Profits before tax without IVA and CCAdj Profits after tax without IVA and CCAdj Net cash flow with IVA 1.7 1996Q2 1.7 1.7 ................. ................. 1.9 2003Q1 1.9 1.9 1991Q3 1.9 3.3 1993Q3 3.3 Percent change from quarter one year ago 2023Q4 2023Q4 2024Q1 2024Q1 2023Q4 4.1 3.9 2.7 2.3 3.5 2024Q1 2024Q1 2023Q2 2023Q2 2024Q1 -1.4 -2.7 0.4 0.8 -2.9 Corporate profits with IVA and CCAdj Profits after tax with IVA and CCAdj Profits before tax without IVA and CCAdj Profits after tax without IVA and CCAdj Net cash flow with IVA IVA Inventory valuation adjustment CCAdj Capital consumption adjustment Source: U.S. Bureau of Economic Analysis 8.0 1992Q2 8.0 6.6 1979Q2 6.6 11.7 1987Q1 11.7 11.2 ................. ................. 8.4 ................. ................. 2022Q4 2022Q4 2022Q1 2021Q4 2023Q4 8.6 7.1 13.7 20.3 9.5 2024Q1 2024Q1 2024Q1 2024Q1 2024Q1 6.4 5.3 10.1 10.0 6.1