GDP Slid 31.7% in Q2, Says BEA in Second Estimate
Washington, DC, August 27, 2020-Real gross domestic product (GDP) decreased at an annual rate of 31.7% in Q2 2020, according to the second estimate released by the Bureau of Economic Analysis (BEA). In Q1, real GDP decreased 5.0%.
This GDP estimate is based on more complete source data than were available for the advance estimate issued last month. In the advance estimate, the decrease in real GDP was 32.9%. With the second estimate, private inventory investment and personal consumption expenditures (PCE) decreased less than previously estimated.