For details on the calculation of quantity and price indexes, see Chapter 4: Estimating Methods in the NIPA Handbook. 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. 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. 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. 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 … 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. Imports were revised up. For information on updates to GDP, see the "Additional Information" section that follows. Additional information on several factors impacting personal income can be found in "Effects of Selected Federal Pandemic Response Programs on Personal Income.". Annual and comprehensive updates are typically released in late July. These data have been superseded. Percent changes. Percent changes in quarterly not seasonally adjusted values are calculated from the same quarter one year ago. 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. For details, see the FAQ "Why does BEA publish estimates at annual rates?" Why does BEA publish estimates at annual rates? Gross output is the value of the goods and services produced by the nation’s economy. For more definitions, see the Glossary: National Income and Product Accounts. A detailed "Key Source Data and Assumptions" file is also posted for each release. The "second" estimate for the third quarter, based on more complete data, will be released on November 25, 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. The government's third-quarter GDP report, released this Thursday, is expected to show the economy partially rebounded from coronavirus lockdowns in the … The increase in private inventory investment primarily reflected an increase in retail trade (led by motor vehicle dealers). Excluding food and energy prices, the PCE price index increased 3.5 percent, in contrast to a decrease of 0.8 percent. 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. 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. The government will release its third-quarter GDP report on October 29, five days before the election. 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). Current-dollar estimates are valued in the prices of the period when the transactions occurred—that is, at "market value." The increase in residential fixed investment primarily reflected an increase in brokers' commissions and other ownership transfer costs. Quarterly not seasonally adjusted values are expressed only at quarterly rates. 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. The Czech economy mitigated its downturn in the Q3 2020; in the quarter-on-quarter comparison, it … 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. A long time series with quarterly results on the gross domestic product starting with the first quarter of 1970 is available here. 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 … This convention is used for BEA's featured, seasonally adjusted measures to facilitate comparisons with related and historical data. It includes income from domestic sources as well as the rest of world. Hilton Announces Third Quarter 2020 Earnings Release Date. 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. The PCE price index increased 3.7 percent, in contrast to a decrease of 1.6 percent. The "second" estimate for the third quarter, based on more complete data, will be released on November 25, 2020. 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.. In the second quarter, real GDP decreased 31.4 percent. In practice, GDP and GDI differ because they are constructed using largely independent source data. The third quarter growth was a record but the economy still faces a hard slog ahead. In the second quarter, real GDP decreased 31.4 percent. 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 Atlanta Fed’s GDPNow had third-quarter growth at 37 percent. The gross domestic purchases price index measures the prices of final goods and services purchased by U.S. residents. The government's third-quarter GDP report, released this Thursday, is expected to show the economy partially rebounded from coronavirus lockdowns in the … The table below shows the average revisions to the quarterly percent changes in real GDP between different estimate vintages, without regard to sign. The increase in nonresidential fixed investment primarily reflected an increase in equipment (led by transportation equipment). Consolidated average daily volume increased 13.5% year over year. OECD GDP rebounded by 9.0% in the third quarter of 2020 but remains below pre-pandemic high . The increase in exports primarily reflected an increase in goods (led by automotive vehicles, engines, and parts as well as capital goods). GDP is expected to increase by about 30% or more in the third 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. Comprehensive (or benchmark) updates are carried out at about 5-year intervals and incorporate major periodic source data, as well as major conceptual improvements. GDP by industry and gross output estimates are released with the third estimate of GDP. For fourth quarter estimates, these data are not available until the third estimate. 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). It does not include realized or unrealized capital gains or losses. Singapore’s GDP Contracted by 7.0 Per Cent in the Third Quarter of 2020 14 October 2020. This convention is used for BEA's featured, seasonally adjusted measures to facilitate comparisons with related and historical data. December 8, 2020 Kedsta Rpt Business 0. The press release will be available on the websites of MTI Crisis Monitor enables comparison between corona crisis and financial/economic crisis An official website of the United States government. Kenneth Rapoza Senior Contributor. Imports, which are a subtraction in the calculation of GDP, were revised up (see "Updates to GDP"). Why does BEA publish estimates at annual rates? The government will release its third-quarter GDP report on October 29, five days before the election. Gears of Government Awards; History. Origins: 1776-1913; Evolution: 1913-1995; Photos from 100th anniversary; Secretaries of Commerce; Speeches of past Secretaries 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 saving rate is personal saving as a percentage of disposable personal income. Profits of domestic nonfinancial corporations increased $431.2 billion, in contrast to a decrease of $145.9 billion. 01.12.2020 Code: 050056-20 , , ... 01.12.2020 The data are valid as of the release date of the publication. It is equal to personal income less personal current taxes. 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. On the one hand, a strong recovery in that quarter is sure to have a strong positive impact on 2020’s final quarter. 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. GDP by industry and gross output estimates are released with the third estimate of GDP. It is principally measured using industry sales or receipts, including sales to final users (GDP) and sales to other industries (intermediate inputs). Percent changes calculated from real quantity indexes and chained-dollar levels are conceptually the same; any differences are due to rounding. Quarterly seasonally adjusted values are expressed at annual rates, unless otherwise specified. The country coverage was not affected by the COVID-19 crisis. Next release, December 22, 2020 at 8:30 A.M. EST 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. U.S. GDP accelerated at a 33.1% annualized pace in the third quarter, the Commerce Department reported. In the second quarter, real GDP decreased 31.4 percent. Percent changes calculated from real quantity indexes and chained-dollar levels are conceptually the same; any differences are due to rounding. 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. Gross Domestic Product (Third Estimate) Gross Domestic Income and Corporate Profits. GDP down by 11.8 % in the euro area and by 11.4 % in the EU-27. 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. The increase in nonresidential fixed investment primarily reflected an increase in equipment (led by transportation equipment). 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. All published percent changes are calculated from unrounded data. All published percent changes are calculated from unrounded data. Gross domestic income (GDI) is the sum of incomes earned and costs incurred in the production of GDP. GCP Applied Technologies Announces Release Date for Third Quarter 2020 Results. In the second estimate for the third quarter, real GDP increased 33.1 percent, unrevised from the advance estimate. 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. 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. Personal saving is personal income less personal outlays and personal current taxes. For more definitions, see the Glossary: National Income and Product Accounts. Maluleke Release GDP Stat Results For The 3rd Quarter Of 2020. --American Finance Trust, Inc. announced today it will release its financial results for the third quarter ended September 30, 2020 on Wednesday, November 4, 2020 … Detailed results for the third quarter of 2020 will be released by the Federal Statistical Office on 24 November 2020. Third Quarter 2020 Earnings Release Date and Conference Call Information The Partnership plans to report third quarter 2020 financial and operating results … 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). Personal outlays is the sum of personal consumption expenditures, personal interest payments, and personal current transfer payments. It does not include realized or unrealized capital gains or losses. Percent changes in quarterly seasonally adjusted series are displayed at annual rates, unless otherwise specified. For fourth quarter estimates, these data are not available until the third estimate. Profits from current production were impacted by provisions from the Paycheck Protection Program. The gross domestic purchases price index measures the prices of final goods and services purchased by U.S. residents. Chained-dollar values are not additive because the relative weights for a given period differ from those of the reference year. That was better than the 32% estimate from a Dow Jones economist survey. 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%. 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). Profits for domestic industries reflect profits for all corporations located within the geographic borders of the United States. 9 If the estimate proves accurate, this year would be the worst since 1946. When Gross Domestic Product (GDP) growth data for the third quarter of 2020 is released on October 29, it will almost certainly break records. 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). 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. Why does BEA publish percent changes in quarterly series at annual rates? 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. Quantities and prices. 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. For more information, see the Technical Note. Share sensitive information only on official, secure websites.. Strengthen U.S. economic and national security; Fulfill constitutional requirements and support economic activity; Deliver customer-centric service excellence; Budget and performance. Annual-vs-quarterly rates. Unless noted otherwise, annual and quarterly data are presented on a calendar basis. The increase in exports primarily reflected an increase in goods (led by automotive vehicles, engines, and parts as well as capital goods). Wages and salaries are now estimated to have decreased $617.3 billion in the second quarter, an upward revision of $64.8 billion. A great deal, thus, depends on the July-to-September quarter. In the third quarter, receipts increased $97.5 billion, and payments increased $57.9 billion. By Tim Smart , Contributing Editor Oct. 29, 2020 By Tim Smart , Contributing Editor Oct. 29, 2020… 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. 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. 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. Current-dollar estimates are valued in the prices of the period when the transactions occurred—that is, at "market value." 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. GDP Resources and Uses - 3rd quarter of 2020 Czech economy decreased by 5.0%, y-o-y. In the second quarter, real GDP decreased 31.4 percent. These data have been superseded. Percent changes. Also referred to as "nominal estimates" or as "current-price estimates.". Personal outlays is the sum of personal consumption expenditures, personal interest payments, and personal current transfer payments. Next release: November 25, 2020 at 8:30 A.M. EST 2 In terms of national accounts. Rest-of-the-world profits increased $39.6 billion, in contrast to a decrease of $89.5 billion. Some economists, however, had been expecting a bigger expansion following the release this week of positive data in recent news on durable good data and international trade. The preliminary flash estimate of the third quarter of 2020 GDP growth presented in this release is based on the data of 16 Member States, covering 93% of euro area GDP and 88% of EU GDP. Page 2 . and "Why does BEA publish percent changes in quarterly series at annual rates?" 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 "second" estimate released by the Bureau of Economic Analysis. Updates to Second-Quarter Wages and Salaries. Quantities, or "real" volume measures, and prices are expressed as index numbers with a specified reference year equal to 100 (currently 2012). Excluding food and energy prices, the PCE price index increased 3.5 percent, in contrast to a decrease of 0.8 percent. For details, see the FAQ "Why does BEA publish estimates at annual rates?" Gross Domestic Product (Second Estimate) An official website of the United States government. It is principally measured using industry sales or receipts, including sales to final users (GDP) and sales to other industries (intermediate inputs). 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). Corporate Profits (Preliminary Estimate) 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). The rest-of-the-world (ROW) component of profits is measured as the difference between profits received from ROW and profits paid to ROW. 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. Percent changes in quarterly seasonally adjusted series are displayed at annual rates, unless otherwise specified. The third-quarter GDP gain was fueled by a record 40.7 percent increase in consumer spending. The rest-of-the-world (ROW) component of profits is measured as the difference between profits received from ROW and profits paid to ROW. For details, see the FAQ "How is average annual growth calculated?" In the second quarter, GDP decreased 32.8 percent, or $2.04 trillion (tables 1 and 3). Third-Quarter GDP Roaring Back At More Than 26%. Real disposable personal income decreased 16.3 percent, in contrast to an increase of 46.6 percent. In practice, GDP and GDI differ because they are constructed using largely independent source data. Quarterly not seasonally adjusted values are expressed only at quarterly rates. For details, see the FAQ "How is average annual growth calculated?" Release of Advance GDP Estimates for Third Quarter 2020 The Ministry of Trade and Industry (MTI) will release the advance GDP estimates for the third quarter of 2020 on 14 October 2020 … 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. In national economic accounting, GDP and GDI are conceptually equal. Calendar years and quarters. 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). Real GDI is now estimated to have decreased 32.6 percent in the second quarter, an upward revision of 0.9 percentage point from the previously published estimate. Third Quarter GDP Will Paint Misleading Picture of Recovery . 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. 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. It is equal to personal income less personal current taxes. GDP decreased by 11.8 % in the euro area (EA-19) and 11.4 % in the EU-27 during the second quarter of 2020, compared with the previous quarter, according to an estimate (see Data sources below) published by Eurostat.These were the sharpest declines observed since time series started in 1995. 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. 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). Evolution of Atlanta Fed GDPNow real GDP estimate for 2020: Q4 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). Third Quarter 2020. Quantities, or "real" volume measures, and prices are expressed as index numbers with a specified reference year equal to 100 (currently 2012). Imports, which are a subtraction in the calculation of GDP, increased (table 2). The personal consumption expenditure price index measures the prices paid for the goods and services purchased by, or on the behalf of, "persons.". The table below shows the average revisions to the quarterly percent changes in real GDP between different estimate vintages, without regard to sign. More information on the source data that underlie the estimates is available in the "Key Source Data and Assumptions" file (available at 10 A.M.) on BEA’s website. In the first quarter, real GDP decreased 5.0 percent. 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. 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. Real values are inflation-adjusted estimates—that is, estimates that exclude the effects of price changes. Corporate Profits (Revised Estimate) 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. Annual and comprehensive updates are typically released in late July. 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. 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). Personal saving is personal income less personal outlays and personal current taxes. 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. 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 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 PCE price index increased 3.7 percent, in contrast to a decrease of 1.6 percent. Gross domestic income (GDI) is the sum of incomes earned and costs incurred in the production of GDP. Annual-vs-quarterly rates. 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. Gross output is the value of the goods and services produced by the nation’s economy. ... a lot of this was due to temporary employment of those knocking on doors for the 2020 Census. 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Release date for third quarter 2020 results 1 and 3 ) down by 11.8 % in production! Have decreased $ 617.3 billion in the second quarter, real GDP decreased 31.4 percent consolidated daily! Quarter, receipts increased $ 57.9 billion reflect profits for domestic industries reflect profits all. Gdp is expected to increase by about 30 % or more in the third quarter a... Stat results for the third quarter, based on more complete data, will be released by nation! Goods and services produced by the nation ’ s GDP Contracted by 7.0 Per in... A long time series with quarterly results on the calculation of GDP 3rd quarter gdp 2020 release date GDP accelerated at a 33.1 annualized... Row and profits paid to ROW salaries are now estimated to have decreased $ 617.3 billion in the Handbook...