By John S. McClenahen The economists at the U.S. Commerce Department's Bureau of Economic Analysis, working from more complete data, for their third and final time have calculated third-quarter GDP growth. And they got the same result they did their ...
ByJohn S. McClenahen The economists at the U.S. Commerce Department's Bureau of Economic Analysis, working from more complete data, for their third and final time have calculated third-quarter GDP growth. And they got the same result they did their second time through: U.S. GDP grew at a 4% annual rate from July through September. That's nearly a percentage point higher than their initial estimate of 3.1% growth and nearly three percentage points higher than the 1.3% rate of growth during this year's second calendar quarter. Revised data show that corporate profits from current production -- profits adjusted for inventories and capital consumption -- decreased $14 billion in the third quarter, some $100 million less than first estimated. Internal funds available for investment, or current-production cash flow, decreased $12 billion in the third quarter.
