BEA produces some of the most closely watched economic statistics that influence decisions of government officials, business people, and individuals. These statistics provide a comprehensive, up-to-date picture of the U.S. economy. The data on this page are drawn from featured BEA economic accounts.
Gross Domestic Product (Second Estimate), Corporate Profits (Preliminary Estimate), Second Quarter 2024
Q2 2024 (2nd) Q1 2024 (3rd)Real gross domestic product (GDP) increased at an annual rate of 3.0 percent in the second quarter of 2024, according to the "second" estimate. In the first quarter, real GDP increased 1.4 percent. The increase in the second quarter primarily reflected increases in consumer spending, private inventory investment, and business investment. Imports, which are a subtraction in the calculation of GDP, increased.
Personal income increased $75.1 billion (0.3 percent at a monthly rate) in July. Disposable personal income (DPI)—personal income less personal current taxes—increased $54.8 billion (0.3 percent). Personal outlays—the sum of personal consumption expenditures (PCE), personal interest payments, and personal current transfer payments—increased $103.3 billion (0.5 percent) and consumer spending increased $103.8 billion (0.5 percent). Personal saving was $598.8 billion and the personal saving rate—personal saving as a percentage of disposable personal income—was 2.9 percent in July.
