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Alexander Chute Economist
Tel: 902-424-5810Email: Alexander.Chute@novascotia.ca

September 28, 2017
US GDP 2017 Q2 (THIRD ESTIMATE)

In the second quarter of 2017, the US economy grew at an annualized rate of 3.1 per cent, according to the third estimate from the Bureau of Economic Analysis (revised upward from the second estimate of 3.0 per cent). Growth was faster than the previous quarter, when real GDP expanded 1.2 per cent. Real expenditures grew for personal consumption expenditures, nonresidential fixed investment, exports, federal government spending, and private inventory investment. Negative contributions to growth came from residential fixed investment and state and local government spending, as well as increased imports. 

 

 

US Corporate profits increased by 0.7 per cent in the second quarter of 2017, with domestic financial industries showing a 7.1 per cent drop in corporate profits and domestic nonfinancial industries growing 4.9 per cent. Corporate profits from the rest of the world were down 2.5 per cent in Q2.

 

 

Source: US Bureau of Economic Analysis



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