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Technical Note
Gross Domestic Product
Second Quarter of 2010 (Third Estimate)
September 30, 2010
This technical note provides background information about the source data and estimating methods used to
produce the estimates presented in the GDP news release.  The complete set of estimates for the second
quarter is available on BEA's Web site at www.bea.gov; a brief summary of "highlights" is also posted
on the Web site.  In a few weeks, the estimates will be published in BEA's monthly journal, the Survey of
Current Business, along with a more detailed analysis of the estimates ("GDP and the Economy").

Sources of Revision to Real GDP

Real GDP increased 1.7 percent (annual rate) in the second quarter, which was 0.1 percentage point more
than last month’s estimate.  The upward revision to GDP reflected upward revisions to inventory
investment and to consumer spending that were partly offset by an upward revision to imports.

     *       The upward revision to private inventory investment reflected revised Census inventory data
             for June.
     *       The upward revision to consumer spending primarily reflected the incorporation of newly
             available quarterly services survey data for the second quarter from the Census Bureau.
     *       The upward revision to imports reflected revised Census goods data for June and a revised
             BEA adjustment for gold, which was based on data from the U.S. Geological Survey and from
             a trade source.  (The national income and product accounts exclude gold exports and imports
             not directly related to domestic production or consumption.)

The price index for gross domestic purchases—the prices paid by U.S. residents for goods and services
wherever produced—increased 0.1 percent in the second quarter, the same increase as in the “second”
estimate.

Corporate Profits

Profits from current production increased $47.5 billion, or 3.0 percent (quarterly rate), in the second
quarter.  Domestic profits of financial corporations decreased $3.4 billion, domestic profits of
nonfinancial corporations increased $48.2 billion, and rest-of-the-world profits increased $2.8 billion
in the second quarter.

Brent R. Moulton
Associate Director for National Economic Accounts
Bureau of Economic Analysis
(202) 606-9606