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National Income and Product Accounts Gross Domestic Product: Fourth Quarter and Annual 2010

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National Income and Product Accounts Gross Domestic Product: Fourth Quarter and Annual 2010 (Third Estimate) Corporate Profits: Fourth Quarter and Annual 2010

  • “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 3.1 percent in the fourth quarter of 2010, (that is, from the third quarter to the fourth quarter), according to the “third” estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 2.6 percent. The GDP estimate released today is based on more complete source data than were available for the “second” estimate issued last month. In the second estimate, the increase in real GDP was 2.8 percent. The increase in real GDP in the fourth quarter primarily reflected positive contributions from personal consumption expenditures (PCE), exports, and nonresidential fixed investment that were partly offset by negative contributions from private inventory investment and state and local government
    spending. Imports, which are a subtraction in the calculation of GDP, decreased.”
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