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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
Privately-owned housing starts in September 2021 were at a seasonally adjusted annual rate of 1,555,000. This is 1.6 percent (+/- 11.4%)* below the revised August 2021 estimate of 1,580,000.
U.S. total business end-of-month inventories for August 2021 were $2,083.9 billion, up 0.6 percent (+/- 0.1 percent) from last month. U.S. total business sales were $1,652.4 billion, down 0.1 percent (+/- 0.2 percent)* from last month.
U.S. retail and food services sales for September 2021 were $625.4 billion, an increase of 0.7 percent (+/- 0.5 percent) from the previous month.
Total U.S. Business Applications were 431,381 in September 2021, up 0.8% from August 2021.
August 2021 sales of merchant wholesalers were $595.5 billion, down 1.1 percent (+/- 0.5 percent) from last month. End-of-month inventories were $731.1 billion, up 1.2 percent (+/- 0.2 percent) from last month.
The nation's international trade deficit in goods and services increased to $73.3 billion in August from $70.3 billion in July (revised), as imports increased more than exports.
New orders for manufactured goods in August increased $6.2 billion or 1.2 percent to $515.7 billion.
Total construction activity for August 2021 ($1,584.1 billion) was virtually unchanged from (+/-1.0 percent)* the revised July 2021 ($1,584.0 billion).
August end-of-month inventories were $731.0 billion, up 1.2 percent (+/- 0.2 percent) from last month.
The advance international trade deficit in goods increased to $87.6 billion in August from $86.8 billion in July as imports increased more than exports.
August 2021 end-of-month inventories were $603.3 billion, up 0.1 percent (+/- 0.2%)* from last month.
New orders for manufactured durable goods in August increased $4.6 billion or 1.8 percent to $263.5 billion.
Sales of new single-family houses in August 2021 were at a seasonally adjusted annual rate of 740,000. This is 1.5 percent (+/- 15.1%)* above the revised July 2021 estimate of 729,000.
The estimate of U.S. selected services total revenue for the second quarter of 2021, adjusted for seasonal variation but not for price changes, was $4,366.4 billion, an increase of 3.9 percent (+/- 0.4 percent) from the first quarter of 2021 and up 20.1 percent (+/- 0.6 percent) from the second quarter of 2020.
Seasonally adjusted after-tax profits for retail corporations with assets of $50 million and over were $71.4 billion for the second quarter 2021 (the 3 months ending July 31, 2021), up $23.3 (+/- 0.6) billion from first quarter 2021 (the 3 months ending April 30, 2021).
Manufacturing corporations' seasonally adjusted after-tax profits were $255.2 billion for the second quarter of 2021, up $26.9 (+/- 0.8) billion from first quarter of 2021.
The rental vacancy rate in the second quarter 2021, 6.2 percent, was higher than the rate in the second quarter 2020. The rates in the Northeast and West were higher than their second quarter 2020 rates. The rates in the Midwest and South were not statistically different from the second quarter 2020 rates.
The homeownership rate in the second quarter 2021, 65.4 percent, was lower than the rate in the second quarter 2020. The homeownership rates in the Northeast, South, and West were lower than the rates in the second quarter 2020, while the rate in the Midwest was not statistically different.
(*) 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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