(Suitland, MD – Insurance News 360) – For the third quarter of 2018, the Bureau of Economic Analysis has released a report that revealed real gross domestic product (GDP) increased by 3.4 percent, according to the third estimate. This is a decline from the second quarter, when real GDP increased by 4.2 percent.

The GDP estimate released on Dec. 21, 2018, shows that personal consumption expenditures and exports were revised down, while private inventory investment went up.

Real domestic income (GDI) rose by 4.3 percent in the third quarter of 2018; the average of real GDP and real GDI increased 3.8 percent in the same quarter. The current-dollar GDP increased 4.9 percent. $246.3 billion in the quarter; during the second quarter, current-dollar GDP increased 7.6 percent.

Corporate profits from current production rose 78.2 billion in the third quarter, $13.2 billion more than the second quarter. Profits from domestic financial corporations fell by $6.1 billion; profits from domestic non-financial corporations increased $83 billion and the rest-of-the-world profits increased $1.3 billion.

Source: Bureau of Economic Analysis, U.S.