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

Q3 2022 (2nd)
+2.9%
Q2 2022 (3rd)
-0.6%

Real gross domestic product (GDP) increased at an annual rate of 2.9 percent in the third quarter of 2022, in contrast to a decrease of 0.6 percent in the second quarter. The increase in the third quarter primarily reflected increases in exports and consumer spending that were partly offset by a decrease in housing investment.

Profits decreased 1.1 percent at a quarterly rate in the third quarter after increasing 4.6 percent in the
second quarter.

  • Current release: November 30, 2022
  • Next release: December 22, 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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