Why Use This Data Source In Your Models?
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.
Corporate Profits After Tax (w/out IVA & CCAdj)
U.S. Bureau of Economic Analysis
Gross Domestic Product
Billions of Dollars, Seasonally Adjusted Annual Rate
The data shows seasonality. The data should be adjusted. While the Boxcox transformation, provides the best normality, the Untransformed variable will also perform well.
Data is able to be distributed by time but not by geography. The roll up method used is Sum.
Data does not show strong auto correlation 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
The Kwiatkowski-Phillips-Schmidt-Shin (KPSS) test, KPSS Trend = 0.10 p-value = 0.10 indicates that the data is stationary.
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
Auto Correlation Function
Auto Correlation Function After Differencing
Partial Auto Correlation Function
Seasonal and Trend Decompostion
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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