Gross Domestic Product (Second Estimate) and Corporate Profits (Preliminary), Second Quarter 2022

Q2 2022 (2nd)
Q1 2022 (3rd)

Real gross domestic product (GDP) decreased at an annual rate of 0.6 percent in the second quarter of 2022, following a decrease of 1.6 percent in the first quarter. The second-quarter decrease was revised up 0.3 percentage point from the "advance" estimate released in July. The smaller decrease in the second quarter, compared to the first quarter, primarily reflected an upturn in exports and a smaller decrease in federal government spending.

Profits increased 6.1 percent at a quarterly rate in the second quarter after decreasing 2.2 percent in the first quarter.

  • Current release: August 25, 2022
  • Next release: September 29, 2022

What is Gross Domestic Product?

A comprehensive measure of U.S. economic activity. GDP measures the value of the final goods and services produced in the United States (without double counting the intermediate goods and services used up to produce them). Changes in GDP are the most popular indicator of the nation's overall economic health.

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