Gross Domestic Product (Third Estimate), Corporate Profits, and GDP by Industry, Fourth Quarter and Year 2020
Real gross domestic product (GDP) increased at an annual rate of 4.3 percent in the fourth quarter of 2020, reflecting both the continued economic recovery from the sharp declines earlier in the year and the ongoing impact of the COVID-19 pandemic, including new restrictions and closures that took effect in some areas of the United States. The increase was 0.2 percentage point higher than the "second" estimate released in February. In the third quarter, real GDP increased 33.4 percent.
Profits decreased 1.4 percent at a quarterly rate in the fourth quarter after increasing 27.4 percent in the third quarter. Corporate profits decreased 0.7 percent in the fourth quarter from one year ago.
Private goods-producing industries increased 6.1 percent, private services-producing industries increased 4.9 percent, and government decreased 1.1 percent. Overall, 17 of 22 industry groups contributed to the fourth-quarter increase in real GDP.
- Gross Domestic Product, (Third Estimate), GDP by Industry, and Corporate Profits, Fourth Quarter and Year 2020
- Full Release & Tables
- Technical Note
- Tables Only
- Release Highlights
- Historical Comparisons
- Key source data and assumptions
- Effects of Selected Federal Pandemic Response Programs on Federal Government Receipts and Expenditures (PDF)
- Effects of Selected Federal Pandemic Response Programs on Federal Government Receipts and Expenditures (XLSX)
- Effects of Selected Federal Pandemic Response Programs on Personal Income (PDF)
- Effects of Selected Federal Pandemic Response Programs on Personal Income (XLSX)
- Paycheck Protection Program Subsidies by Industry in the National Accounts (PDF)
- Paycheck Protection Program Subsidies by Industry in the National Accounts (XLSX)
- Revision Information
- Articles on quarterly GDP by industry statistics includes articles and data related to the previously published prototype quarterly GDP by industry statistics
- Historical SIC Data
- Underlying detail: Additional data from the Industry Economic Accounts
- Improved Estimates of the Industry Economic Accounts: Results of the 2018 Comprehensive Update SCB, December 2018
- Measuring the Nation’s Economy: An Industry Perspective | A Primer on BEA’s Industry Accounts
- Preview of the Comprehensive Revision of the Annual Industry Accounts SCB, March 2010
- Experimental Quarterly U.S. Gross Domestic Product by Industry Statistics SCB, February 2010
- Integrating the 2002 Benchmark Input-Output Accounts and the 2002 Annual Industry Accounts SCB, December 2007
- Gross Domestic Product by Industry for 1947-86: New Estimates Based on the North American Industry Classification System SCB, December 2005
- Annual Industry Accounts: Introducing KLEMS Input Estimates for 1997-2003 SCB, September 2005
- Gross Domestic Product by Industry for 1987-2000: New Estimates on the North American Industry Classification System SCB, November 2004
- Preview of the Comprehensive Revision of the Annual Industry Accounts: Integrating the Annual Input-Output Accounts and the Gross-Domestic-Product-by-Industry Accounts SCB, March 2004
- Priorities for Industry Accounts SCB, November 2000
- Improved Estimates of Gross Product by Industry for 1947-98 SCB, June 2000
- Gross Product by Industry Price Measures 1977-96 SCB, March 1998
What is GDP by Industry?
An industry-by-industry breakdown of gross domestic product. In addition to showing each industry’s contribution to the U.S. economy, known as its value added, these statistics include industries’ compensation of employees, gross operating surplus, and taxes.