• Real GDP increased at an annual rate of 2.0% in the second quarter of 2019, according to the “third” estimate by the Bureau of Economic Analysis. In the first quarter of 2018, real GDP increased 3.1%. In the second estimate, released a month ago, the increase in real GDP was also 2.0%.
  • Real final sales of domestic product (GDP less change in private inventories) increased 3.0% in the second quarter, in contrast to an increase of 2.6% in the first quarter.
  • Real gross domestic income (GDI) increased 1.8% in the second quarter of 2019, compared with an increase of 3.2% in the first quarter.
  • The average of real GDP and real GDI, a supplemental measure of U.S. economic activity that equally weights GDP and GDI, increased 1.9% in the second quarter, compared with an increase of 3.2% in the previous quarter.
  • The price index for gross domestic purchases increased 2.2% in the second quarter, compared with an increase of 0.8% in the previous quarter.
  • The personal consumption expenditures (PCE) price index increased 2.4%, compared with an increase of 0.4% in the previous quarter. Excluding food and energy prices, the PCE price index increased 1.9%, compared with an increase of 1.1%.
  • Corporate profits from current production increased $75.8 billion in the second quarter, after a decrease of $78.7 billion in the previous quarter. Profits of domestic financial corporations increased $2.5 billion in the second quarter, in contrast to an increase of $22.2 billion in the previous quarter. Profits of domestic nonfinancial corporations increased $34.7 billion, compared with a decrease of $108.2 billion in the previous quarter. The rest-of-the-world component of profits increased $38.7 billion, compared with an increase of $7.3 billion in the previous quarter.
  • Personal income increased 0.4% in August, following a 0.1% increase in the previous month. Personal consumption expenditures increased 0.1% in August, following a 0.5% increase in the previous month. Real disposable personal income increased 0.4%, while real personal consumption expenditures increased 0.1% in August. The price index for personal consumption expenditures (headline index) held steady in August, while the core index increased 0.1%.  The price index for personal consumption expenditures (headline index) increased 1.4% from August 2018, while the core index increased 1.8%.
  • State personal income grew 5.4% on average in the second quarter of 2019, after increasing 6.2% in the first quarter, according to the Bureau of Economic Analysis. The percent change in personal income ranged from 7.5% in Texas to unchanged in North Dakota.

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