Corporate Profits After Tax (w/out IVA & CCAdj)

Source:
U.S. Bureau of Economic Analysis

Release:
Gross Domestic Product

Units:
Billions of Dollars, Seasonally Adjusted Annual Rate

Frequency:
Quarterly

Available Through:
09/30/2021

Why Use:

Corporate profits after tax describes the profits claimed by American corporations each quarter. This is indicative of GDP and overall economic health in the UDS each quarter.

Suggested Treatment:

The data shows seasonality. The data should be adjusted. While the Boxcox transformation, provides the best normality, the Untransformed variable will also perform well.

Grain Transformation:

Data is able to be distributed by time but not by geography. The roll up method used is Sum.

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Corporate Profits After Tax (w/out IVA & CCAdj)

Auto Correction Function

Auto Correlation Function After Differencing

Partial Auto Correlation Function

Seasonal Impact

Seasonal and Trend Decompostion

Autocorrectation Analysis:

Data does not show strong autocorrectation indicating no need for differencing

The ACF indicates 0 order differencing is appropriate.

Following first order differencing, no further differencing is required based on the differenced ACF at lag one of -0.02

Trend Analysis:

The Kwiatkowski-Phillips-Schmidt-Shin (KPSS) test, KPSS Trend = 0.10 p-value = 0.10 indicates that the data is stationary.

Distribution Analysis:

The Shapiro-Wilk test returned W = 0.96 with a p-value =0.22 indicating the data follows a normal distribution.

A skewness score of -0.69 indicates the data are moderately skewed.

Hartigan's dip test score of 0.06 with a p-value of 0.54 inidcates the data is unimodal

Statistics (Pearson P/ df, lower => more normal)

No transform
1.37
Box-cox
1.37
Log_b(x-a)
1.45
sqrt(x+a)
1.37
exp(x)
NA
arcsinh(x)
1.45
Yeo-Johnson
NA
OrderNorm
1.59

Citation:

U.S. Bureau of Economic Analysis, Corporate Profits After Tax (without IVA and CCAdj) [CP], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/CP, December 15, 2019.

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