The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Technical Note
Gross Domestic Product
Second Quarter of 2009 (Third Estimate)
September 30, 2009
This technical note provides background information about the source data and
estimating methods used to produce the estimates presented in the GDP news
release. The complete set of estimates for the second quarter is available on
BEA's Web site at www.bea.gov; a brief summary of "highlights" is also posted
on the Web site. In a few weeks, the estimates will be published in BEA's
monthly journal, the Survey of Current Business, along with a more detailed
analysis of the estimates ("GDP and the Economy").
Sources of Revision to Real GDP
Real GDP decreased 0.7 percent (annual rate) in the second quarter, which was
0.3 percentage point less of a decrease than the previous estimate. The revision
primarily reflected an upward revision to nonresidential fixed investment:
•
The upward revision to nonresidential fixed investment reflected an
upward revision to equipment and software that was partly offset by a
downward revision to structures. The revision to equipment and software
was mostly to software, reflecting newly available data from the Census
Bureau quarterly services survey. The revision to nonresidential
structures reflected revised value put in place data for May and June from
the Census Bureau.
The price index for gross domestic purchases—the prices paid by U.S. residents
for goods and services, wherever produced—increased 0.5 percent in the
second quarter, the same as in the previous estimate.
Corporate Profits
Profits from current production increased $43.8 billion, or 3.7 percent (quarterly
rate), in the second quarter. Domestic profits of financial corporations increased
$28.5 billion, domestic profits of nonfinancial corporations increased $29.8 billion,
and rest-of-the-world profits decreased $14.6 billion in the second quarter.
Brent R. Moulton
Associate Director for National Economic Accounts
Bureau of Economic Analysis
(202) 606-9606