by Calculated Risk on 9/26/2019 08:34:00 AM
Thursday, September 26, 2019
Real gross domestic product (GDP) increased at an annual rate of 2.0 percent in the second quarter of 2019, according to the "third" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 3.1 percent.PCE growth was revised down from 4.7% to 4.6%. Residential investment was revised down from -2.9% to -3.0%. This was at the consensus forecast.
The GDP estimate released today is based on more complete source data than were available for the "second" estimate issued last month. In the second estimate, the increase in real GDP was also 2.0 percent. Downward revisions to personal consumption expenditures (PCE) and nonresidential fixed investment were primarily offset by upward revisions to state and local government spending and exports. Imports, which are a subtraction in the calculation of GDP, were revised down
Here is a Comparison of Third and Second Estimates.
Posted by Calculated Risk on 9/26/2019 08:34:00 AM