For information on updates to GDP, see the "Additional Information" section that follows. The gross domestic purchases price index measures the prices of final goods and services purchased by U.S. residents. Share sensitive information only on official, secure websites.. Quantity and price indexes are calculated using a Fisher-chained weighted formula that incorporates weights from two adjacent periods (quarters for quarterly data and annuals for annual data). A detailed "Key Source Data and Assumptions" file is also posted for each release. Annual and comprehensive updates are typically released in late July. For more definitions, see the Glossary: National Income and Product Accounts. Percent changes in quarterly seasonally adjusted series are displayed at annual rates, unless otherwise specified. Profits from current production, referred to as corporate profits with inventory valuation adjustment (IVA) and capital consumption (CCAdj) adjustment in the National Income and Product Accounts (NIPAs), is a measure of the net income of corporations before deducting income taxes that is consistent with the value of goods and services measured in GDP. The average of real GDP and real GDI, a supplemental measure of U.S. economic activity that equally weights GDP and GDI, increased 29.2 percent in the third quarter, in contrast to a decrease of 32.0 percent (revised) in the second quarter (table 1). and "Why does BEA publish percent changes in quarterly series at annual rates?" Gross Domestic Income and Corporate Profits. Profits from current production (corporate profits with inventory valuation and capital consumption adjustments) increased $495.3 billion in the third quarter, in contrast to a decrease of $208.9 billion in the second quarter (table 10). For details, see the FAQ "How is average annual growth calculated?" GDP down by 11.8 % in the euro area and by 11.4 % in the EU-27. News Release Date Time; Gross Domestic Product, 4th Quarter and Year 2020 (Advance Estimate) January 28 : 08:30 AM : Personal Income and Outlays, December 2020 : January 29 : 08:30 AM : U.S. International Trade in Goods and Services, December 2020 : February 5 : 08:30 AM Chained-dollar values are not additive because the relative weights for a given period differ from those of the reference year. The increase in residential fixed investment primarily reflected an increase in brokers' commissions and other ownership transfer costs. Gross Domestic Product, Third Quarter 2020 (Advance Estimate), Information on COVID-19 and recovery impacts is available on our, Stay informed about BEA developments by reading the BEA, Historical time series for these estimates can be accessed in BEA's, Access BEA data by registering for BEA's data, For more on BEA's statistics, see our monthly online journal, the. On the other hand, continued weakness in the third quarter will mean that this country’s GDP growth will be minimal at best in 2020. The increase in nonresidential fixed investment primarily reflected an increase in equipment (led by transportation equipment). The government will release its third-quarter GDP report on October 29, five days before the election. Real GDP: Percent change from preceding quarter, Q3 2020 (Adv) COVID-19 Impact on the Third-Quarter 2020 GDP Estimate Why does BEA publish estimates at annual rates? Unlike GDP, advance current quarterly estimates of GDI and corporate profits are not released because data on domestic profits and on net interest of domestic industries are not available. Quarterly seasonally adjusted values are expressed at annual rates, unless otherwise specified. Disposable personal income decreased $636.7 billion, or 13.2 percent, in the third quarter, in contrast to an increase of $1.60 trillion, or 44.3 percent, in the second quarter. Next release: November 25, 2020 at 8:30 A.M. EST Chained-dollar values are calculated by multiplying the quantity index by the current dollar value in the reference year (2012) and then dividing by 100. GDP is also equal to the sum of personal consumption expenditures, gross private domestic investment, net exports of goods and services, and government consumption expenditures and gross investment. Gross Domestic Product (Second Estimate) For more information, see the Technical Note. For information on updates to GDP, see the "Additional Information" section that follows. The PCE price index increased 3.7 percent, in contrast to a decrease of 1.6 percent. Current-dollar estimates are valued in the prices of the period when the transactions occurred—that is, at "market value." The personal saving rate—personal saving as a percentage of disposable personal income—was 15.8 percent in the third quarter, compared with 25.7 percent in the second quarter. It is equal to personal income less personal current taxes. Disposable personal income is the income available to persons for spending or saving. For details, see the FAQ "Why does BEA publish estimates at annual rates?" Quantities and prices. Gross Domestic Product (Third Estimate) With the second estimate, upward revisions to nonresidential fixed investment, residential investment, and exports were offset by downward revisions to state and local government spending, private inventory investment, and personal consumption expenditures (PCE). Hilton Announces Third Quarter 2020 Earnings Release Date. Percent changes in quarterly not seasonally adjusted values are calculated from the same quarter one year ago. The third-quarter GDP gain was fueled by a record 40.7 percent increase in consumer spending. For fourth quarter estimates, these data are not available until the third estimate. This convention is used for BEA's featured, seasonally adjusted measures to facilitate comparisons with related and historical data. Real gross domestic product (GDP) increased at an annual rate of 33.1 percent in the third quarter of 2020 (table 1), according to the "second" estimate released by the Bureau of Economic Analysis. In addition to presenting updated estimates for the third quarter, today's release presents revised estimates of second-quarter 2020 wages and salaries, personal taxes, and contributions for government social insurance, based on updated data from the Bureau of Labor Statistics Quarterly Census of Employment and Wages program. Gross Domestic Product, Third Quarter 2020 (Second Estimate); Corporate Profits, Third Quarter 2020 (Preliminary Estimate), Information on COVID-19 and recovery impacts is available on our, Stay informed about BEA developments by reading the BEA, Historical time series for these estimates can be accessed in BEA's, Access BEA data by registering for BEA's data, For more on BEA's statistics, see our monthly online journal, the. Third Quarter 2020. 2 In terms of national accounts. Chained-dollar values are not additive because the relative weights for a given period differ from those of the reference year. Additional resources available at www.bea.gov: Gross domestic product (GDP), or value added, is the value of the goods and services produced by the nation's economy less the value of the goods and services used up in production. Real gross domestic product (GDP) increased at an annual rate of 33.4 percent in the third quarter of 2020 (table 1), according to the "third" estimate released by the Bureau of Economic Analysis. Please see our, EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, Thursday, October 29, 2020, COVID-19 Impact on the Third-Quarter 2020 GDP Estimate, The increase in third quarter GDP reflected continued efforts to reopen businesses and resume activities that were postponed or restricted due to COVID-19. October 08, 2020 04:30 PM Eastern Daylight Time. Percent changes in quarterly not seasonally adjusted values are calculated from the same quarter one year ago. The GDP estimate released today is based on more complete source data than were available for the "advance" estimate issued last month that also showed an increase in real GDP of 33.1 percent. Profits from current production, referred to as corporate profits with inventory valuation adjustment (IVA) and capital consumption (CCAdj) adjustment in the National Income and Product Accounts (NIPAs), is a measure of the net income of corporations before deducting income taxes that is consistent with the value of goods and services measured in GDP. GDPNow nowcasts of real GDP growth in a particular quarter begin about 90 days before the "advance" estimate for GDP growth for the quarter is released; they end on the last business day with a data release GDPNow utilizes that precedes the release date of the Bureau of Economic Analysis’s (BEA) advance estimate of GDP growth. Percent changes. Maluleke Release GDP Stat Results For The 3rd Quarter Of 2020. GDPNow nowcasts of real GDP growth in a particular quarter begin about 90 days before the "advance" estimate for GDP growth for the quarter is released; they end on the last business day with a data release GDPNow utilizes that precedes the release date of the Bureau of Economic Analysis’s (BEA) advance estimate of GDP growth. Third Quarter GDP Will Paint Misleading Picture of Recovery . Imports, which are a subtraction in the calculation of GDP, increased (table 2). Personal outlays is the sum of personal consumption expenditures, personal interest payments, and personal current transfer payments. Excluding food and energy prices, the PCE price index increased 3.5 percent, in contrast to a decrease of 0.8 percent. Additional resources available at www.bea.gov: Gross domestic product (GDP), or value added, is the value of the goods and services produced by the nation's economy less the value of the goods and services used up in production. Welltower Inc. (NYSE: WELL) today announced that it will release third quarter 2020 financial results after the close of trading on the New York Stock Exchange on Wednesday, October 28, 2020. The government will release its third-quarter GDP report on October 29, five days before the election. Upward revisions to nonresidential fixed investment, residential fixed investment, and exports were offset by downward revisions to state and local government spending, private inventory investment, and PCE. Updates to Second-Quarter Wages and Salaries. A great deal, thus, depends on the July-to-September quarter. The "second" estimate for the third quarter, based on more complete data, will be released on November 25, 2020. Third Quarter 2020. Profits from current production were impacted by provisions from the Paycheck Protection Program. In the second quarter, real GDP decreased 31.4 percent. Rest-of-the-world profits increased $39.6 billion, in contrast to a decrease of $89.5 billion. In the second quarter, real GDP decreased 31.4 percent. The decrease in personal income was more than accounted for by a decrease in personal current transfer receipts (notably, government social benefits related to pandemic relief programs) that was partly offset by increases in compensation and proprietors' income (table 8). Real gross domestic product (GDP) increased at an annual rate of 33.1 percent in the third quarter of 2020 (table 1), according to the "second" estimate released by the Bureau of Economic Analysis. Evolution of Atlanta Fed GDPNow real GDP estimate for 2020: Q4 Annual updates generally cover at least the 5 most recent calendar years (and their associated quarters) and incorporate newly available major annual source data as well as some changes in methods and definitions to improve the accounts. Quantities, or "real" volume measures, and prices are expressed as index numbers with a specified reference year equal to 100 (currently 2012). In practice, GDP and GDI differ because they are constructed using largely independent source data. An official website of the United States government. The rest-of-the-world (ROW) component of profits is measured as the difference between profits received from ROW and profits paid to ROW. Next release, December 22, 2020 at 8:30 A.M. EST The increase in real GDP reflected increases in PCE, private inventory investment, exports, nonresidential fixed investment, and residential fixed investment that were partly offset by decreases in federal government spending (reflecting fewer fees paid to administer the Paycheck Protection Program loans) and state and local government spending. Additional information on several factors impacting personal income can be found in "Effects of Selected Federal Pandemic Response Programs on Personal Income.". In the second estimate for the third quarter, real GDP increased 33.1 percent, unrevised from the advance estimate. Gears of Government Awards; History. That was better than the 32% estimate from a Dow Jones economist survey. Quarterly seasonally adjusted values are expressed at annual rates, unless otherwise specified. In the second quarter, GDP decreased 32.8 percent, or $2.04 trillion (tables 1 and 3). Real values are inflation-adjusted estimates—that is, estimates that exclude the effects of price changes. The IVA and CCAdj are adjustments that convert inventory withdrawals and depreciation of fixed assets reported on a tax-return, historical-cost basis to the current-cost economic measures used in the national income and product accounts. The increase in nonresidential fixed investment primarily reflected an increase in equipment (led by transportation equipment). Comprehensive (or benchmark) updates are carried out at about 5-year intervals and incorporate major periodic source data, as well as major conceptual improvements. For more information, see the, 4600 Silver Hill Road • Suitland, MD 20746, Effects of Selected Federal Pandemic Response Programs on Personal Income, Effects of Selected Federal Pandemic Response Programs on Federal Government Receipts and Expenditures, Glossary: National Income and Product Accounts. The increase in exports primarily reflected an increase in goods (led by automotive vehicles, engines, and parts as well as capital goods). 0 2 4 6 8 10 12 25-Sep 5-Oct 15-Oct 25-Oct 4-Nov 14-Nov 24-Nov 4-Dec 14-Dec 24-Dec 3-Jan Date of forecast Sources: Blue Chip Economic Indicators and Blue Chip Financial Forecasts Note: The top (bottom) 10 average forecast is an average of the highest (lowest) 10 forecasts in the Blue Chip survey. Page 2 . Gross domestic income (GDI) is the sum of incomes earned and costs incurred in the production of GDP. BEA releases three vintages of the current quarterly estimate for GDP: "Advance" estimates are released near the end of the first month following the end of the quarter and are based on source data that are incomplete or subject to further revision by the source agency; "second" and "third" estimates are released near the end of the second and third months, respectively, and are based on more detailed and more comprehensive data as they become available. Profits for domestic industries reflect profits for all corporations located within the geographic borders of the United States. Real gross domestic product (GDP) decreased at an annual rate of 31.4 percent in the second quarter of 2020 (table 1), according to the "third" estimate released by the Bureau of Economic Analysis. Personal income is the income received by, or on behalf of, all persons from all sources:  from participation as laborers in production, from owning a home or business, from the ownership of financial assets, and from government and business in the form of transfers. For details, see the FAQ "Why does BEA publish estimates at annual rates?" The government's third-quarter GDP report, released this Thursday, is expected to show the economy partially rebounded from coronavirus lockdowns in the … In practice, GDP and GDI differ because they are constructed using largely independent source data. For details, see the FAQ "How is average annual growth calculated?" Current dollar GDP increased 38.0 percent at an annual rate, or $1.64 trillion, in the third quarter to a level of $21.16 trillion. Real gross domestic product (GDP) increased in all 50 states and the District of Columbia in the third quarter of 2020, as real GDP for the nation increased at an annual rate of 33.4 percent, according to statistics released today by the U.S. Bureau of Economic Analysis. GDP by industry and gross output estimates are released with the third estimate of GDP. According to a preliminary estimate, the gross domestic product decreased in the Q3 2020 by 5.8%, year-on-year; in the quarter-on-quarter comparison it increased by 6.2%. Percent changes calculated from real quantity indexes and chained-dollar levels are conceptually the same; any differences are due to rounding. Release Date: August 14, 2020 THIRD QUARTER 2020 Higher Growth in the Current Quarter The outlook for the U.S. economy in the current quarter looks brighter now … The PCE price index increased 3.7 percent, in contrast to a decrease of 1.6 percent. Chained-dollar values are calculated by multiplying the quantity index by the current dollar value in the reference year (2012) and then dividing by 100. Annual updates generally cover at least the 5 most recent calendar years (and their associated quarters) and incorporate newly available major annual source data as well as some changes in methods and definitions to improve the accounts. The increase in private inventory investment primarily reflected an increase in retail trade (led by motor vehicle dealers). Corporate Profits (Preliminary Estimate) Wages and salaries are now estimated to have decreased $617.3 billion in the second quarter, an upward revision of $64.8 billion. Kenneth Rapoza Senior Contributor. GDP growth in the euro area and EU: In the third quarter of 2020, seasonally adjusted GDP increased by 12.5% in the euro area and by 11.5% in the EU compared with the previous quarter, according to an estimate published by Eurostat, the statistical office of the European Union. Generally, the preliminary accounting data of quarterly GDP are released about 15 days after the season, the final verification data of quarterly GDP are released in the following January. The full economic effects of the COVID-19 pandemic cannot be quantified in the GDP estimate for the third quarter of 2020 because the impacts are generally embedded in source data and cannot be separately identified. Why does BEA publish percent changes in quarterly series at annual rates? The increase in exports primarily reflected an increase in goods (led by automotive vehicles, engines, and parts as well as capital goods). The personal consumption expenditure price index measures the prices paid for the goods and services purchased by, or on the behalf of, "persons.". Current-dollar estimates are valued in the prices of the period when the transactions occurred—that is, at "market value." In tables that display chained-dollar values, a "residual" line shows the difference between the sum of detailed chained-dollar series and its corresponding aggregate. PRESS RELEASE RELEASE OF ADVANCE GDP ESTIMATES FOR THIRD QUARTER 2020 The Ministry of Trade and Industry (MTI) will release the advance GDP estimates1 for the third quarter of 2020 on 14 October 2020 (Wednesday), at 8.00 a.m.. The bottom line is that the September quarter’s GDP advance estimate due out on Thursday, October 29, five days before the election, will look stronger than it really was. Unless noted otherwise, annual and quarterly data are presented on a calendar basis. By Tim Smart , Contributing Editor Oct. 29, 2020 By Tim Smart , Contributing Editor Oct. 29, 2020… The increase in private inventory investment primarily reflected an increase in retail trade (led by motor vehicle dealers). Personal outlays is the sum of personal consumption expenditures, personal interest payments, and personal current transfer payments. Detailed results for the third quarter of 2020 will be released by the Federal Statistical Office on 24 November 2020. It is equal to personal income less personal current taxes. Real values are inflation-adjusted estimates—that is, estimates that exclude the effects of price changes. In the second quarter, GDP decreased 32.8 percent, or $2.04 trillion (tables 1 and 3). Comprehensive (or benchmark) updates are carried out at about 5-year intervals and incorporate major periodic source data, as well as major conceptual improvements. Profits for domestic industries reflect profits for all corporations located within the geographic borders of the United States. Profits of domestic financial corporations increased $24.5 billion in the third quarter, compared with an increase of $26.5 billion in the second quarter. Imports, which are a subtraction in the calculation of GDP, increased (table 2). 9 If the estimate proves accurate, this year would be the worst since 1946. In the third quarter, receipts increased $97.5 billion, and payments increased $57.9 billion. The Bureau of Economic Analysis or BEA released its second estimate for June quarter’s GDP, and while it was slightly improved from the advance estimate of down 32.9%, it … Profits of domestic nonfinancial corporations increased $431.2 billion, in contrast to a decrease of $145.9 billion. The personal saving rate is personal saving as a percentage of disposable personal income. Also referred to as "nominal estimates" or as "current-price estimates.". Personal saving is personal income less personal outlays and personal current taxes. Quarterly not seasonally adjusted values are expressed only at quarterly rates. Singapore’s GDP Contracted by 7.0 Per Cent in the Third Quarter of 2020 14 October 2020. There is another reason why even 30%-35% growth in the third quarter would be underwhelming – the Blue Chip consensus forecast for the full calendar year 2020 is a 4% decline in real GDP. 01.12.2020 Code: 050056-20 , , ... 01.12.2020 The data are valid as of the release date of the publication. It includes income from domestic sources as well as the rest of world. Calendar years and quarters. The price index for gross domestic purchases increased 3.4 percent in the third quarter, in contrast to a decrease of 1.4 percent in the second quarter (table 4). Calendar years and quarters. Disposable personal income is the income available to persons for spending or saving. Albertsons Companies, Inc. (NYSE: ACI) will release financial results for the third quarter of fiscal 2020, which ended December 5, 2020, before the market opens on Tuesday, January 12, 2021. For more information, see the, 4600 Silver Hill Road • Suitland, MD 20746, Effects of Selected Federal Pandemic Response Programs on Federal Government Receipts and Expenditures, Effects of Selected Federal Pandemic Response Programs on Personal Income, Glossary: National Income and Product Accounts. The GDP estimate released today is based on source data that are incomplete or subject to further revision by the source agency (see "Source Data for the Advance Estimate" on page 2). These data have been superseded. December 8, 2020 Kedsta Rpt Business 0. In the second quarter, real GDP decreased 31.4 percent. Quantities, or "real" volume measures, and prices are expressed as index numbers with a specified reference year equal to 100 (currently 2012). The "second" estimate for the third quarter, based on more complete data, will be released on November 25, 2020. GDP Resources and Uses - 3rd quarter of 2020 Czech economy decreased by 5.0%, y-o-y. This convention is used for BEA's featured, seasonally adjusted measures to facilitate comparisons with related and historical data. On the one hand, a strong recovery in that quarter is sure to have a strong positive impact on 2020’s final quarter. Please see our, EMBARGOED UNTIL RELEASE AT 8:30 A.M. EST, Wednesday, November 25, 2020, COVID-19 Impact on the Third-Quarter 2020 GDP Estimate, The increase in third quarter GDP reflected continued efforts to reopen businesses and resume activities that were postponed or restricted due to COVID-19. For more information, see the Technical Note. Real disposable personal income decreased 16.3 percent, in contrast to an increase of 46.6 percent. Personal saving is personal income less personal outlays and personal current taxes. Imports, which are a subtraction in the calculation of GDP, were revised up (see "Updates to GDP"). In the first quarter, real GDP decreased 5.0 percent. It does not include realized or unrealized capital gains or losses. It is principally measured using industry sales or receipts, including sales to final users (GDP) and sales to other industries (intermediate inputs). Excluding food and energy prices, the PCE price index increased 3.5 percent, in contrast to a decrease of 0.8 percent. Third Quarter 2020 Earnings Release Date and Conference Call Information The Partnership plans to report third quarter 2020 financial and operating results … Next News Release will be published on: 1 December 2020 (GDP resources and uses for the Q3 2020) 1 All data presented in this News Release are adjusted for seasonal and calendar effects. Unlike GDP, advance current quarterly estimates of GDI and corporate profits are not released because data on domestic profits and on net interest of domestic industries are not available. The personal consumption expenditure price index measures the prices paid for the goods and services purchased by, or on the behalf of, "persons.". Real gross domestic product (GDP) increased at an annual rate of 33.1 percent in the third quarter of 2020 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. Annual-vs-quarterly rates. The table below shows the average revisions to the quarterly percent changes in real GDP between different estimate vintages, without regard to sign. The government's third-quarter GDP report, released this Thursday, is expected to show the economy partially rebounded from coronavirus lockdowns in the … The personal saving rate is personal saving as a percentage of disposable personal income. OECD GDP rebounded by 9.0% in the third quarter of 2020 but remains below pre-pandemic high . These data have been superseded. An official website of the United States government. The increase in PCE reflected increases in services (led by health care as well as food services and accommodations) and goods (led by clothing and footwear as well as motor vehicles and parts). Imports were revised up. Gross output is the value of the goods and services produced by the nation’s economy. U.S. GDP accelerated at a 33.1% annualized pace in the third quarter, the Commerce Department reported. GDP is expected to increase by about 30% or more in the third quarter. Why does BEA publish percent changes in quarterly series at annual rates? GDP is also equal to the sum of personal consumption expenditures, gross private domestic investment, net exports of goods and services, and government consumption expenditures and gross investment. In national economic accounting, GDP and GDI are conceptually equal. The press release will be available on the websites of MTI The price index for gross domestic purchases increased 3.3 percent in the third quarter, in contrast to a decrease of 1.4 percent in the second quarter (table 4). For details on the calculation of quantity and price indexes, see Chapter 4: Estimating Methods in the NIPA Handbook. The country coverage was not affected by the COVID-19 crisis. The increase in real GDP reflected increases in personal consumption expenditures (PCE), private inventory investment, exports, nonresidential fixed investment, and residential fixed investment that were partly offset by decreases in federal government spending (reflecting fewer fees paid to administer the Paycheck Protection Program loans) and state and local government spending. MEDIA ADVISORY 3 December 2020 Statistics South Africa to release the Gross Domestic Product (GDP), 3 rd Quarter 2020 Statistics South Africa (Stats SA) will release the results of the Gross domestic product (GDP) for the 3 rd quarter of 2020, at a media briefing to be held on Tuesday, 8 December 2020. Current-dollar personal income decreased $540.6 billion in the third quarter, in contrast to an increase of $1.45 trillion in the second quarter. Also referred to as "nominal estimates" or as "current-price estimates.". Crisis Monitor enables comparison between corona crisis and financial/economic crisis GCP Applied Technologies Announces Release Date for Third Quarter 2020 Results. ATLANTA, Oct. 28, 2020 (GLOBE NEWSWIRE) -- UPS (NYSE:UPS) today announced third-quarter 2020 consolidated revenue of $21.2 billion, a 15.9% increase over the third quarter of 2019. Information on the source data and key assumptions used in the advance estimate is provided in a Technical Note that is posted with the news release on BEA's Web site. The increase in PCE reflected increases in services (led by health care as well as food services and accommodations) and goods (led by motor vehicles and parts as well as clothing and footwear). Real gross domestic income (GDI) increased 25.5 percent in the third quarter, in contrast to a decrease of 32.6 percent (revised) in the second quarter. Quantity and price indexes are calculated using a Fisher-chained weighted formula that incorporates weights from two adjacent periods (quarters for quarterly data and annuals for annual data). , compared with $ 4.71 trillion in the second quarter, an revision. And payments increased $ 97.5 billion, and personal current transfer payments long time series quarterly... 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