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FRIDAY, SEPTEMBER 25, 2015 GDP INCREASES IN SECOND QUARTER Growth Rate Revised Up in “Third” Estimate Real gross domestic product (GDP) increased 3.9 percent in the second quarter of 2015, according to the “third” estimate released by the Bureau of Economic Analysis. The growth rate was revised up 0.2 percentage point from the “second” estimate released in August. In the first quarter, real GDP increased 0.6 percent. Quarter-to-Quarter Growth in Real GDP 6 4 Percent GDP highlights The second-quarter increase in real GDP mainly reflected a rise in consumer spending. Spending on services rose, notably on health care and food services and accommodations. Spending on nondurable goods also rose, as did spending on durable goods, notably on motor vehicles and parts. Exports of goods also increased, notably industrial supplies and materials. Business investment, state and local government spending, and residential investment also rose. 2 0 -2 III IV 2011 Offsetting these contributions to GDP growth, imports, a subtraction in the calculation of GDP, increased. I II III 2012 IV I II III 2013 IV I II III 2014 IV I II 2015 Real GDP growth is measured at seasonally adjusted annual rates. Revisions The revision to second-quarter GDP growth reflected upward revisions to: consumer spending, mainly spending on services; business investment, notably in structures; and residential investment. These contributions were partly offset by a downward revision to inventory investment. For more information, see the technical note. Corporate profits Corporate profits increased 3.5 percent at a quarterly rate in the second quarter after decreasing 5.8 percent in the first quarter. Quarter-to-Quarter Growth in Corporate Profits 15 10 Profits of domestic nonfinancial corporations Over the last 4 quarters, corporate profits increased 0.6 percent. 5 Percent rose 1.9 percent after falling 5.3 percent. Profits of domestic financial corporations rose 9.6 percent after falling 6.1 percent. Profits from the rest of the world rose 2.9 percent after falling 6.9 percent. 0 -5 -10 -15 III 2011 IV I II III 2012 IV I II III 2013 IV I II III IV 2014 I II 2015 Corporate profits growth is measured as the percent change from the previous quarter. BEA data—including GDP, personal income, the balance of payments, foreign direct investment, the input-output accounts, and economic data for states, local areas, and industries—are available on the BEA Web site: www.bea.gov. E-mail alerts are also available. NOTE: The “advance” estimate of GDP for the third quarter of 2015 will be released on October 29, 2015. Contact: Jeannine Aversa (202) 606-2649 Bureau of Economic Analysis, U.S. Department of Commerce