{"id":138917,"date":"2024-12-19T22:00:06","date_gmt":"2024-12-19T15:00:06","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=138917"},"modified":"2024-12-19T22:00:06","modified_gmt":"2024-12-19T15:00:06","slug":"gross-domestic-product-third-estimate-corporate-profits-revised-estimate-and-gdp-by-industry-third-quarter-2024","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=138917","title":{"rendered":"Gross Domestic Product (Third Estimate), Corporate Profits (Revised Estimate), and GDP by Industry, Third Quarter 2024"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<p><strong>Real gross domestic product<\/strong> (GDP) increased at an annual rate of 3.1 percent in the third quarter of 2024 (table 1), according to the &#8220;third&#8221; estimate released by the U.S. Bureau of Economic Analysis. In the second quarter, real GDP increased 3.0 percent.<\/p>\n<p>The GDP estimate released today is based on more complete source data than were available for the &#8220;second&#8221; estimate issued last month. In the second estimate, the increase in real GDP was 2.8 percent. The update primarily reflected upward revisions to exports and consumer spending that were partly offset by a downward revision to private inventory investment. Imports, which are a subtraction in the calculation of GDP, were revised up (refer to &#8220;Updates to GDP&#8221;).<\/p>\n<div class=\"center_div\"><a href=\"https:\/\/www.bea.gov\/system\/files\/gdp3q24-3rd-01.png\"><img decoding=\"async\" alt=\"Real GDP: Percent change from preceding quarter\" data-entity-type=\"file\" src=\"https:\/\/www.bea.gov\/system\/files\/gdp3q24-3rd-01.png\" class=\"align-center\"\/><\/a><\/div>\n<p>The increase in <strong>real GDP<\/strong> primarily reflected increases in consumer spending, exports, nonresidential fixed investment, and federal government spending. Imports increased (table 2).<\/p>\n<p>Compared to the second quarter, the acceleration in <strong>real GDP<\/strong> in the third quarter primarily reflected accelerations in exports, consumer spending, and federal government spending. These movements were partly offset by a downturn in private inventory investment and a larger decrease in residential fixed investment. Imports accelerated.<\/p>\n<p><strong>Current dollar GDP<\/strong> increased 5.0 percent at an annual rate, or $358.2 billion, in the third quarter to a level of $29.37 trillion, an upward revision of $20.6 billion from the previous estimate (tables 1 and 3). More information on the source data that underlie the estimates is available in the &#8220;<a href=\"https:\/\/www.bea.gov\/sites\/default\/files\/2024-12\/gdpkeysource-3q24-3rd.xlsx\">Key Source Data and Assumptions<\/a>&#8221; file on BEA\u2019s website.<\/p>\n<p>The <strong>price index for gross domestic purchases<\/strong> increased 1.9 percent in the third quarter, the same as the previous estimate (table 4). The <strong>personal consumption expenditures (PCE) price index<\/strong> increased 1.5 percent, also the same as previously estimated. Excluding food and energy prices, the PCE price index increased 2.2 percent, an upward revision of 0.1 percentage point.<\/p>\n<h3>Personal Income<\/h3>\n<p><strong>Current-dollar personal income<\/strong> increased $191.7 billion in the third quarter, an upward revision of $15.8 billion from the previous estimate. The increase primarily reflected increases in compensation and personal current transfer receipts (table 8).<\/p>\n<p><strong>Disposable personal income<\/strong> increased $141.5 billion, or 2.7 percent, in the third quarter, an upward revision of $18.6 billion from the previous estimate. <strong>Real disposable personal income<\/strong> increased 1.1 percent, an upward revision of 0.3 percentage point.<\/p>\n<p><strong>Personal saving<\/strong> was $936.6 billion in the third quarter, an upward revision of $2.1 billion from the previous estimate. The <strong>personal saving rate<\/strong>\u2014personal saving as a percentage of disposable personal income\u2014was 4.3 percent in the third quarter, the same as the previous estimate.<\/p>\n<h3>Gross Domestic Income and Corporate Profits<\/h3>\n<p><strong>Real gross domestic income<\/strong> (GDI) increased 2.1 percent in the third quarter, a downward revision of 0.1 percentage point from the previous estimate. The <strong>average of real GDP and real GDI<\/strong>, a supplemental measure of U.S. economic activity that equally weights GDP and GDI, increased 2.6 percent in the third quarter, an upward revision of 0.1 percentage point from the previous estimate (table 1).<\/p>\n<p><strong>Profits from current production<\/strong> (corporate profits with inventory valuation and capital consumption adjustments) decreased $15.0 billion in the third quarter, a downward revision of $4.9 billion from the previous estimate (table 10).<\/p>\n<p><strong>Profits of domestic financial corporations<\/strong> increased $3.0 billion in the third quarter, an upward revision of $5.6 billion from the previous estimate. <strong>Profits of domestic nonfinancial corporations<\/strong> increased $24.9 billion, a downward revision of $5.9 billion. <strong>Rest-of-the-world profits<\/strong> decreased $42.9 billion, a downward revision of $4.6 billion. Receipts decreased $61.5 billion, and payments decreased $18.7 billion.<\/p>\n<h3>Updates to GDP<\/h3>\n<p>With the third estimate, upward revisions to exports and consumer spending were partly offset by a downward revision to private inventory investment. Imports were revised up. For more information, refer to the <a href=\"https:\/\/www.bea.gov\/sites\/default\/files\/2024-12\/tech3q24-3rd.pdf\">Technical Note<\/a>. For information on updates to GDP, refer to the &#8220;Additional Information&#8221; section that follows.<\/p>\n<div class=\"table-responsive\">\n<table align=\"center\" class=\"table table-md table-reset\">\n<thead>\n<tr>\n<th rowspan=\"2\">\u00a0<\/th>\n<th class=\"text-center\"><strong>Advance Estimate<\/strong><\/th>\n<th class=\"text-center\"><strong>Second Estimate<\/strong><\/th>\n<th class=\"text-center\"><strong>Third Estimate<\/strong><\/th>\n<\/tr>\n<tr>\n<th class=\"text-center\" colspan=\"3\"><strong>(Percent change from preceding quarter)<\/strong><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<th align=\"left\" class=\"text-left\">Real GDP<\/th>\n<td align=\"center\">2.8<\/td>\n<td align=\"center\">2.8<\/td>\n<td align=\"center\">3.1<\/td>\n<\/tr>\n<tr>\n<th align=\"left\" class=\"text-left\">Current-dollar GDP<\/th>\n<td align=\"center\">4.7<\/td>\n<td align=\"center\">4.7<\/td>\n<td align=\"center\">5.0<\/td>\n<\/tr>\n<tr>\n<th align=\"left\" class=\"text-left\">Real GDI<\/th>\n<td align=\"center\">\u2026<\/td>\n<td align=\"center\">2.2<\/td>\n<td align=\"center\">2.1<\/td>\n<\/tr>\n<tr>\n<th align=\"left\" class=\"text-left\">Average of Real GDP and Real GDI<\/th>\n<td align=\"center\">\u2026<\/td>\n<td align=\"center\">2.5<\/td>\n<td align=\"center\">2.6<\/td>\n<\/tr>\n<tr>\n<th align=\"left\" class=\"text-left\">Gross domestic purchases price index<\/th>\n<td align=\"center\">1.8<\/td>\n<td align=\"center\">1.9<\/td>\n<td align=\"center\">1.9<\/td>\n<\/tr>\n<tr>\n<th align=\"left\" class=\"text-left\">PCE price index<\/th>\n<td align=\"center\">1.5<\/td>\n<td align=\"center\">1.5<\/td>\n<td align=\"center\">1.5<\/td>\n<\/tr>\n<tr>\n<th align=\"left\" class=\"text-left\">PCE price index excluding food and energy<\/th>\n<td align=\"center\">2.2<\/td>\n<td align=\"center\">2.1<\/td>\n<td align=\"center\">2.2<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<h3>Real GDP by Industry<\/h3>\n<p>Today\u2019s release includes estimates of <strong>GDP by industry<\/strong>, or value added\u2014a measure of an industry\u2019s contribution to GDP. Private goods-producing industries increased 1.5 percent, private services-producing industries increased 3.6 percent, and government increased 2.1 percent (table 12). Overall, 16 of 22 industry groups contributed to the third-quarter increase in real GDP.<\/p>\n<div class=\"row\">\n<div class=\"col-md-6\">\n<ul>\n<li>Within private goods-producing industries, the leading contributors to the increase were durable goods manufacturing (led by other transportation equipment) and nondurable goods manufacturing (led by chemical products) (table 13).<\/li>\n<li>Within private services-producing industries, the leading contributors to the increase were retail trade (led by motor vehicles and parts dealers); health care and social assistance (led by ambulatory health care services); and information (led by data processing, internet publishing, and other information services).<\/li>\n<li>The increase in government was led by an increase in state and local government.<\/li>\n<\/ul>\n<\/div>\n<div class=\"col-md-6\">\n<div class=\"center_div\"><a href=\"https:\/\/www.bea.gov\/sites\/default\/files\/gdp3q24-3rd-02.png\"><img decoding=\"async\" alt=\"Real GDP by Industry\" data-entity-type=\"file\" src=\"https:\/\/www.bea.gov\/sites\/default\/files\/gdp3q24-3rd-02.png\" style=\"margin: 5px; margin-bottom: 40px;\" class=\"align-center\"\/><\/a><\/div>\n<\/div>\n<\/div>\n<div class=\"center_div\"><a href=\"https:\/\/www.bea.gov\/sites\/default\/files\/gdp3q24-3rd-03.png\"><img decoding=\"async\" alt=\"Contributions to Percent Change in Real GDP by Industry Group, 2024:Q3\" data-entity-type=\"file\" src=\"https:\/\/www.bea.gov\/sites\/default\/files\/gdp3q24-3rd-03.png\" class=\"align-center\"\/><\/a><\/div>\n<h3>Gross Output by Industry<\/h3>\n<p><strong>Real gross output<\/strong>\u2014principally a measure of an industry\u2019s sales or receipts, which includes sales to final users in the economy (GDP) and sales to other industries (intermediate inputs)\u2014increased 3.2 percent in the third quarter. Private goods-producing industries increased 0.6 percent, private services-producing industries increased 4.0 percent, and government increased 3.5 percent (table 16). Overall, 17 out of 22 industry groups contributed to the increase in real gross output.<\/p>\n<p align=\"center\" class=\"text-center\">*\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 *\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 *<\/p>\n<p align=\"center\">Next release, January 30, 2025, at 8:30 a.m. EST<br \/>Gross Domestic Product, Fourth Quarter 2024 and Year 2024 (Advance Estimate)<\/p>\n<p align=\"center\" class=\"text-center\">*\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 *\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 *<\/p>\n<div class=\"panel panel-default\">\n<p align=\"center\" class=\"panel-title\"><strong>Note<\/strong><\/p>\n<div class=\"panel-body\">\n<p>Beginning in January 2025, the GDP news release materials will no longer include separate \u201cHighlights\u201d or \u201cTechnical Note\u201d documents as part of the release\u2019s \u201cRelated Materials.\u201d Information previously included in the Highlights and the Technical Note will be available in the news release or on BEA\u2019s website.<\/p>\n<\/div>\n<\/div>\n<div class=\"table-responsive\">\n<table align=\"center\" class=\"table table-lg\">\n<thead>\n<tr>\n<th class=\"text-center\" colspan=\"5\"><strong>Release Dates in 2025<\/strong><\/th>\n<\/tr>\n<tr>\n<th align=\"center\" class=\"text-center\"><strong>Estimate\u00a0<\/strong><\/th>\n<th align=\"center\" class=\"text-center\">2024 Q4 and<br \/>Year 2024<\/th>\n<th align=\"center\" class=\"text-center\">2025 Q1<\/th>\n<th align=\"center\" class=\"text-center\">2025 Q2<\/th>\n<th align=\"center\" class=\"text-center\">2025 Q3<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td align=\"left\" class=\"text-left\"><strong>Gross Domestic Product<\/strong><\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" class=\"text-left\">Advance Estimate<\/td>\n<td align=\"center\" class=\"text-center\">January 30, 2025<\/td>\n<td align=\"center\" class=\"text-center\">April 30, 2025<\/td>\n<td align=\"center\" class=\"text-center\">July 30, 2025<\/td>\n<td align=\"center\" class=\"text-center\">October 30, 2025<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" class=\"text-left\">Second Estimate<\/td>\n<td align=\"center\" class=\"text-center\">February 27, 2025<\/td>\n<td align=\"center\" class=\"text-center\">May 29, 2025<\/td>\n<td align=\"center\" class=\"text-center\">August 28, 2025<\/td>\n<td align=\"center\" class=\"text-center\">November 26, 2025<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" class=\"text-left\">Third Estimate<\/td>\n<td align=\"center\" class=\"text-center\">March 27, 2025<\/td>\n<td align=\"center\" class=\"text-center\">June 26, 2025<\/td>\n<td align=\"center\" class=\"text-center\">September 25, 2025<\/td>\n<td align=\"center\" class=\"text-center\">December 19, 2025<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" class=\"text-left\">\u00a0<\/td>\n<td align=\"center\" class=\"text-center\">\u00a0<\/td>\n<td align=\"center\" class=\"text-center\">\u00a0<\/td>\n<td align=\"center\" class=\"text-center\">\u00a0<\/td>\n<td align=\"center\" class=\"text-center\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" class=\"text-left\"><strong>Gross Domestic Product by Industry<\/strong><\/td>\n<td align=\"center\" class=\"text-center\">March 27, 2025<\/td>\n<td align=\"center\" class=\"text-center\">June 26, 2025<\/td>\n<td align=\"center\" class=\"text-center\">September 25, 2025<\/td>\n<td align=\"center\" class=\"text-center\">December 19, 2025<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" class=\"text-left\">\u00a0<\/td>\n<td align=\"center\" class=\"text-center\">\u00a0<\/td>\n<td align=\"center\" class=\"text-center\">\u00a0<\/td>\n<td align=\"center\" class=\"text-center\">\u00a0<\/td>\n<td align=\"center\" class=\"text-center\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" class=\"text-left\"><strong>Corporate Profits <\/strong><\/td>\n<td align=\"center\" class=\"text-center\">\u00a0<\/td>\n<td align=\"center\" class=\"text-center\">\u00a0<\/td>\n<td align=\"center\" class=\"text-center\">\u00a0<\/td>\n<td align=\"center\" class=\"text-center\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" class=\"text-left\">Preliminary Estimate<\/td>\n<td align=\"center\" class=\"text-center\">&#8212;<\/td>\n<td align=\"center\" class=\"text-center\">May 29, 2025<\/td>\n<td align=\"center\" class=\"text-center\">August 28, 2025<\/td>\n<td align=\"center\" class=\"text-center\">November 26, 2025<\/td>\n<\/tr>\n<tr>\n<td align=\"left\" class=\"text-left\">Revised Estimate<\/td>\n<td align=\"center\" class=\"text-center\">March 27, 2025<\/td>\n<td align=\"center\" class=\"text-center\">June 26, 2025<\/td>\n<td align=\"center\" class=\"text-center\">September 25, 2025<\/td>\n<td align=\"center\" class=\"text-center\">December 19, 2025<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<p><script async 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according to the &#8220;third&#8221; estimate released by the U.S. &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=138917\" class=\"more-link\">Read 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