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Real gross domestic product (GDP) increased at an annual rate of 33.4 percent in the third quarter of 2020, as efforts continued to reopen businesses and resume activities that were postponed or restricted due to COVID-19. The change was 0.3 percentage point higher than the "second" estimate released in November. In the second quarter of 2020, real GDP decreased 31.4 percent.Profits increased 27.4 percent at a quarterly rate in the third quarter after decreasing 10.3 percent in the second quarter. Corporate profits increased 3.5 percent in the third quarter from one year ago. Profits were boosted by provisions from the Paycheck Protection Program.Private goods-producing industries increased 47.2 percent, private services-producing industries increased 35.1 percent, and government increased 10.1 percent. Overall, 21 of 22 industry groups contributed to the third-quarter increase in real GDP. Mining decreased in the third quarter. Full Text
Total construction activity for April 2021 ($1,524.2 billion) was 0.2 percent (+/-0.8 percent)* above the revised March 2021 ($1,521.0 billion).
April 2021 end-of-month inventories were $602.9 billion, down 1.6 percent (+/- 0.2%) from last month.
The advance international trade deficit in goods decreased to $85.2 billion in April from $92.0 billion in March as exports increased and imports decreased.
April end-of-month inventories were $698.3 billion, up 0.8 percent (+/- 0.4 percent) from last month.
New orders for manufactured durable goods in April decreased $3.2 billion or 1.3 percent to $246.2 billion.
Sales of new single-family houses in April 2021 were at a seasonally adjusted annual rate of 863,000. This is 5.9 percent (+/- 11.2%)* below the revised March 2021 estimate of 917,000.
Advance Report: Advance U.S. selected services total revenue for the first quarter of 2021, adjusted for seasonal variation but not for price changes, was $4,199.9 billion, an increase of 2.4 percent (+/- 0.2 percent) from the fourth quarter of 2020 and up 4.5 percent (+/- 0.6 percent) from the first quarter of 2020.
Privately-owned housing starts in April 2021 were at a seasonally adjusted annual rate of 1,569,000. This is 9.5 percent (+/- 10.8%)* below the revised March 2021 estimate of 1,733,000.
U.S. total business end-of-month inventories for March 2021 were $2,014.3 billion, up 0.3 percent (+/- 0.1 percent) from last month. U.S. total business sales were $1,638.2 billion, up 5.7 percent (+/- 0.2 percent) from last month.
U.S. retail and food services sales for April 2021 were $619.9 billion, virtually unchanged (+/- 0.5 percent)* from the previous month.
Total U.S. Business Applications were 487,939 in April 2021, up 8.9% from March 2021.
March 2021 sales of merchant wholesalers were $567.9 billion, up 4.6 percent (+/- 0.7 percent) from last month. End-of-month inventories were $693.6 billion, up 1.3 percent (+/- 0.4 percent) from last month.
New orders for manufactured goods in March increased $5.8 billion or 1.1 percent to $512.9 billion.
The nation's international trade deficit in goods and services increased to $74.4 billion in March from $70.5 billion in February (revised), as imports increased more than exports.
The rental vacancy rate in the first quarter 2021, 6.8 percent, was not statistically different from the rate in the first quarter 2020. The rental vacancy rate in the South was lower than the first quarter 2020 rate. The rental vacancy rates in the Northeast and West were higher than the first quarter 2020 rates. The rental vacancy rate in the Midwest was not statistically different from the first quarter 2020 rate.
The homeownership rate in the first quarter 2021, 65.6 percent, was not statistically different from the rate in the first quarter 2020. The homeownership rate in the Midwest was higher than the first quarter 2020 rate. The homeownership rates in the Northeast, South, and West were not statistically different from the first quarter 2020 rate.
Seasonally adjusted after-tax profits for retail corporations with assets of $50 million and over were $34.2 billion for the fourth quarter 2020 (the 3 months ending January 31, 2021), down $8.7 (+/- 0.3) billion from third quarter 2020 (the 3 months ending October 31, 2020).
Manufacturing corporations' seasonally adjusted after-tax profits were $144.1 billion for the fourth quarter of 2020, down $6.3 (+/- 1.3) billion from third quarter of 2020.
(*) The 90% confidence interval includes zero. The Census Bureau does not have sufficient statistical evidence to conclude that the actual change is different from zero.
(°) Statistical significance is not applicable or not measurable for these surveys. The Manufacturers’ Shipments, Inventories and Orders estimates are not based on a probability sample, so we can neither measure the sampling error of these estimates nor compute confidence intervals.
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