Gross Domestic Product, 2nd Quarter 2020 (Second Estimate); Corporate Profits, 2nd Quarter 2020 (Preliminary Estimate)

Q2 2020 (2nd)
-31.7%
Q1 2020 (3rd)
-5.0%

Real gross domestic product (GDP) decreased at an annual rate of 31.7 percent in the second quarter of 2020, according to the “second” estimate released by the Bureau of Economic Analysis. The change was 1.2 percentage points higher than the “advance” estimate released in July. In the first quarter of 2020, real GDP decreased 5.0 percent.

Attention

The news release for the third estimate of GDP on September 30 will include GDP by industry statistics for the first time. BEA is speeding up the release of industry and state GDP quarterly data to coordinate more closely with national GDP. The format of the existing GDP News Release Tables (Tables 1-11 and Appendix Tables A-B) will be unchanged. GDP by industry and gross output tables (Tables 12-18) will be added to the Sept. 30 news release and subsequent third estimate GDP releases. Table formats are now available.

Table formats

  • Current release: August 27, 2020
  • Next release: September 30, 2020
 

What is Gross Domestic Product?

A comprehensive measure of U.S. economic activity. GDP is the value of the goods and services produced in the United States. The growth rate of GDP is the most popular indicator of the nation's overall economic health.

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