Gross Domestic Product (Third Estimate), Corporate Profits (Revised), and GDP by Industry, Third Quarter 2020

Real gross domestic product (GDP) increased at an annual rate of 33.4 percent in the third quarter of 2020, as efforts continued to reopen businesses and resume activities that were postponed or restricted due to COVID-19. The change was 0.3 percentage point higher than the “second” estimate released in November. In the second quarter of 2020, real GDP decreased 31.4 percent.

Private goods-producing industries increased 47.2 percent, private services-producing industries increased 35.1 percent, and government increased 10.1 percent. Overall, 21 of 22 industry groups contributed to the third-quarter increase in real GDP. Mining decreased in the third quarter.

  • Data Archive Previously published estimates contain historical data and have since been revised

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.

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