Gross Domestic Product, Second Quarter 2023 (Second Estimate) and Corporate Profits (Preliminary)

Q2 2023 (2nd)
Q1 2023 (3rd)

Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the second quarter of 2023, according to the “second” estimate. In the first quarter, real GDP increased 2.0 percent. The increase in the second quarter primarily reflected increases in consumer spending and business investment that were partly offset by a decrease in exports. Imports, which are a subtraction in the calculation of GDP, decreased.

Profits decreased 0.4 percent at a quarterly rate in the second quarter after decreasing 4.1 percent in the first quarter.

  • Current release: August 30
  • Next release: September 28

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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