![\"\"](\"https:\/\/new.thepinetree.net\/wp-content\/uploads\/2018\/03\/gdp4q17_3rd_chart.png\")
<\/a><\/p>\nReal GDP: Percent Change from Preceding Quarter<\/p>\n
Real gross domestic income (GDI) increased 0.9 percent in the fourth quarter, compared with an
\nincrease of 2.4 percent in the third. The average of real GDP and real GDI, a supplemental measure of
\nU.S. economic activity that equally weights GDP and GDI, increased 1.9 percent in the fourth quarter,
\ncompared with an increase of 2.8 percent in the third quarter (table 1).
\nThe increase in real GDP in the fourth quarter primarily reflected positive contributions from PCE,
\nnonresidential fixed investment, exports, residential fixed investment, state and local government
\nspending, and federal government spending that were partly offset by a negative contribution from
\nprivate inventory investment. Imports, which are a subtraction in the calculation of GDP, increased
\n(table 2).<\/p>\n
The deceleration in real GDP growth in the fourth quarter reflected a downturn in private inventory
\ninvestment that was partly offset by accelerations in PCE, exports, state and local government spending,
\nnonresidential fixed investment, and federal government spending, and an upturn in residential fixed
\ninvestment. Imports, which are a subtraction in the calculation of GDP, turned up.<\/p>\n
Current-dollar GDP increased 5.3 percent, or $253.5 billion, in the fourth quarter to a level of $19,754.1
\nbillion. In the third quarter, current-dollar GDP increased 5.3 percent, or $250.6 billion (table 1 and table
\n3).<\/p>\n
The price index for gross domestic purchases increased 2.5 percent in the fourth quarter, compared
\nwith an increase of 1.7 percent in the third quarter (table 4). The PCE price index increased 2.7 percent,
\ncompared with an increase of 1.5 percent. Excluding food and energy prices, the PCE price index
\nincreased 1.9 percent, compared with an increase of 1.3 percent (appendix table A).<\/p>\n
Updates to GDP<\/p>\n
The upward revision to the percent change in real GDP reflected upward revisions to PCE and private
\ninventory investment. For more information, see the Technical Note. A detailed “Key Source Data and
\nAssumptions” file is also posted for each release. For information on updates to GDP, see the
\n“Additional Information” section that follows.<\/p>\n
Advance Estimate Second Estimate Third Estimate
\n(Percent change from preceding quarter)
\nReal GDP 2.6 2.5 2.9
\nCurrent-dollar GDP 5.0 4.9 5.3
\nReal GDI … … 0.9
\nAverage of Real GDP and Real GDI … … 1.9
\nGross domestic purchases price index 2.5 2.5 2.5
\nPCE price index 2.8 2.7 2.7<\/p>\n
2017 GDP<\/p>\n
Real GDP increased 2.3 percent in 2017 (that is, from the 2016 annual level to the 2017 annual level),
\ncompared with an increase of 1.5 percent in 2016 (table 1).<\/p>\n
The increase in real GDP in 2017 primarily reflected positive contributions from PCE, nonresidential fixed
\ninvestment, and exports. These contributions were partly offset by a decline in private inventory
\ninvestment. Imports, which are a subtraction in the calculation of GDP, increased (table 2).<\/p>\n
The acceleration in real GDP from 2016 to 2017 reflected upturns in nonresidential fixed investment and
\nin exports and a smaller decrease in private inventory investment. These movements were partly offset
\nby decelerations in residential fixed investment and in state and local government spending. Imports,
\nwhich are a subtraction in the calculation of GDP, accelerated.<\/p>\n
Current-dollar GDP increased 4.1 percent, or $766.1 billion, in 2017 to a level of $19,390.6 billion,
\ncompared with an increase of 2.8 percent, or $503.8 billion, in 2016 (table 1 and table 3).<\/p>\n
The price index for gross domestic purchases increased 1.8 percent in 2017, compared with an increase
\nof 1.0 percent in 2016 (table 4). The PCE price index increased 1.7 percent, compared with an increase
\nof 1.2 percent. Excluding food and energy prices, the PCE price index increased 1.5 percent, compared
\nwith an increase of 1.8 percent (appendix table A).<\/p>\n
During 2017 (measured from the fourth quarter of 2016 to the fourth quarter of 2017), real GDP
\nincreased 2.6 percent, compared with an increase of 1.8 percent during 2016. The price index for gross
\ndomestic purchases increased 1.9 percent during 2017, compared with an increase of 1.4 percent during
\n2016 (table 7).<\/p>\n
Corporate Profits (table 12)<\/p>\n
Profits from current production (corporate profits with inventory valuation adjustment and capital
\nconsumption adjustment) decreased $1.1 billion in the fourth quarter, in contrast to an increase of
\n$90.2 billion in the third quarter.<\/p>\n
Profits of domestic financial corporations decreased $14.6 billion in the fourth quarter, in contrast to
\nan increase of $47.8 billion in the third. Profits of domestic nonfinancial corporations increased $19.4
\nbillion, compared with an increase of $10.4 billion. Rest-of-the-world profits decreased $5.9 billion, in
\ncontrast to an increase of $32.0 billion. In the fourth quarter, receipts increased $14.9 billion, and
\npayments increased $20.8 billion.<\/p>\n
In 2017, profits from current production increased $91.2 billion, in contrast to a decrease of $44.0
\nbillion in 2016. Profits of domestic financial corporations increased $15.7 billion, in contrast to a
\ndecrease of $2.0 billion. Profits of domestic nonfinancial corporations increased $37.4 billion, in contrast
\nto a decrease of $51.7 billion. The rest-of-the-world component of profits increased $38.0 billion,
\ncompared with an increase of $9.8 billion.<\/p>\n
The 2017 Tax Cuts and Jobs Act includes several provisions that impact the business income and
\npersonal income statistics in the national income and product accounts (NIPAs). The provisions do not
\nimpact corporate profits for current production or GDI but do impact net cash flow in the fourth quarter
\nof 2017. For more information, see the Technical Note.<\/p>\n","protected":false},"excerpt":{"rendered":"
Washington, DC…Real gross domestic product (GDP) increased at an annual rate of 2.9 percent in the fourth quarter of 2017 (table 1), according to the “third” estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.2 percent. The GDP estimate released today is based on more complete source data […]<\/p>\n","protected":false},"author":1,"featured_media":55991,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_cbd_carousel_blocks":"[]","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,20,149,5,1],"tags":[],"class_list":["post-55990","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-featured","category-financial","category-government","category-news","last_archivepost"],"jetpack_featured_media_url":"https:\/\/new.thepinetree.net\/wp-content\/uploads\/2018\/03\/gdp4q17_3rd_chart.png","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/55990","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=55990"}],"version-history":[{"count":0,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/55990\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/media\/55991"}],"wp:attachment":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=55990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=55990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=55990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}