Real gross domestic product (GDP) increased 3.9 percent in the second quarter of 2015, according to the “third” estimate released by the Bureau of Economic Analysis. The growth rate was revised up 0.2 percentage point from the “second” estimate released in August. In the first quarter, real GDP increased 0.6 percent.
GDP highlights
The second-quarter increase in real GDP mainly reflected a rise in consumer spending. Spending on services rose, notably on health care and food services and accommodations. Spending on nondurable goods also rose, as did spending on durable goods, notably on motor vehicles and parts.
Exports of goods also increased, notably industrial supplies and materials. Business investment, state and local government spending, and residential investment also rose.
Offsetting these contributions to GDP growth, imports, a subtraction in the calculation of GDP, increased.
Revisions
The revision to second-quarter GDP growth reflected upward revisions to: consumer spending, mainly spending on services; business investment, notably in structures; and residential investment.
These contributions were partly offset by a downward revision to inventory investment.
For more information, see the technical note.
Corporate profits
Corporate profits increased 3.5 percent at a quarterly rate in the second quarter after decreasing 5.8 percent in the first quarter.
- Profits of domestic nonfinancial corporations rose 1.9 percent after falling 5.3 percent.
- Profits of domestic financial corporations rose 9.6 percent after falling 6.1 percent.
- Profits from the rest of the world rose 2.9 percent after falling 6.9 percent.
Over the last 4 quarters, corporate profits increased 0.6 percent.
For more information, read the full report.