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Gross Domestic Product

Gross Domestic Product, Fourth Quarter and Year 2022 (Third Estimate), GDP by Industry, and Corporate Profits

Q4 2022 (3rd)
+2.6%
Q3 2022 (3rd)
+3.2%

Real gross domestic product (GDP) increased at an annual rate of 2.6 percent in the fourth quarter of 2022, after increasing 3.2 percent in the third quarter. The increase in the fourth quarter primarily reflected increases in inventory investment and consumer spending that were partly offset by a decrease in housing investment.

Profits decreased 2.0 percent in the fourth quarter after decreasing less than 0.1 percent in the third quarter.

Private goods-producing industries increased 4.0 percent, private services-producing industries increased 2.3 percent, and government increased 2.1 percent. Overall, 17 of 22 industry groups contributed to the fourth-quarter increase in real GDP.pi

Current Release

Quick Guide: GDP Releases

  • Current release: March 30, 2023
  • Next release: April 27, 2023

Current Release

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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