The article provides comprehensive definitions of key economic indicators such as Gross Domestic Product (GDP), Gross Domestic Income (GDI), and Gross Output. It explains the differences between current-dollar and real values, as well as the various price indexes used in economic accounting. The article also delves into personal income, disposable income, and personal saving rates. Additionally, it discusses profits from current production and the statistical conventions used in presenting economic data, such as annual vs. quarterly rates and percent changes. Furthermore, the article details the updates to GDP estimates, including the three vintages released by the Bureau of Economic Analysis (BEA) and the average revisions to these estimates. It also explains the annual and comprehensive updates released in September and the reasons why advance estimates for GDI and corporate profits are not available for the fourth quarter.