BEA News: Gross Domestic Product, 2nd quarter 2011 (third estimate); Corporate Profits, 2nd quarter 2011 (revised estimate)

The U.S. Bureau of Economic Analysis (BEA) has issued the following news release today:

Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 1.3 percent in the second quarter of 2011, (that is, from the first quarter to the second quarter), according to the "third" estimate released by the Bureau of Economic Analysis.

Profits from current production (corporate profits with inventory valuation and capital consumption adjustments) increased $61.2 billion in the second quarter, compared with an increase of $19.0 billion in the first quarter.  Current-production cash flow (net cash flow with inventory valuation adjustment) -- the internal funds available to corporations for investment -- increased $86.2 billion in the second quarter, compared with an increase of $21.1 billion in the first.

The full text of the release on BEA's Web site can be found at
http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm

 

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