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TUESDAY, DECEMBER 22, 2015 GDP INCREASES IN THIRD QUARTER “Third” estimate of GDP released Real gross domestic product (GDP) increased 2.0 percent in the third quarter of 2015, according to the “third” estimate released by the Bureau of Economic Analysis. The growth rate was revised down 0.1 percentage point from the “second” estimate released in November. In the second quarter, real GDP increased 3.9 percent. The following also contributed to the increase in GDP: Business investment, state and local government spending, residential investment, and exports. Quarter-to-Quarter Growth in Real GDP 6 4 Percent GDP highlights The third-quarter increase in real GDP mainly reflected a rise in consumer spending. Spending on nondurable and durable goods increased. Spending on services also increased, notably on health care. 2 0 -2 The contributions to real GDP growth were partly offset by a decline in inventory investment, notably in manufacturing and in wholesale trade. Also, imports, a subtraction in the calculation of GDP, increased. IV 2011 I II III 2012 IV I II III 2013 IV I II III 2014 IV I II III 2015 Real GDP growth is measured at seasonally adjusted annual rates. Real final sales of domestic product—GDP less inventory investment—increased 2.7 percent in the third quarter, compared with a 3.9 percent increase in the second quarter. Revisions The slight revision to real GDP growth mainly reflected a downward revision to private inventory investment, notably to wholesale trade and to manufacturing. For more information, see the technical note. Corporate profits Corporate profits decreased 1.6 percent at a quarterly rate in the third quarter after increasing 3.5 percent in the second quarter. Quarter-to-Quarter Growth in Corporate Profits 10 8 6 4 Profits of domestic nonfinancial corporations 2 Percent decreased 0.9 percent after increasing 1.9 percent. Profits of domestic financial corporations increased 0.5 percent after increasing 9.6 percent. Profits from the rest of the world decreased 5.7 percent after increasing 2.9 percent. 0 -2 -4 -6 -8 -10 IV Over the last 4 quarters, corporate profits decreased 5.1 percent. 2011 I II III 2012 IV I II III IV 2013 I II III IV I 2014 II III 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 fourth quarter of 2015 will be released on January 29, 2016. Contact: Jeannine Aversa (202) 606-2649 Bureau of Economic Analysis, U.S. Department of Commerce