Q1 GDP Holds Steady at a 5.0% Decline, According to Third Estimate
Washington, DC, June 25, 2020-Real gross domestic product (GDP) decreased at an annual rate of 5.0% in Q1 2020, according to the third estimate released by the Bureau of Economic Analysis.
In the fourth quarter, real GDP increased 2.1%.
This GDP estimate is based on more complete source data than were available for the second estimate issued last month. In the second estimate, the decrease in real GDP was also 5.0%. With the third estimate, an upward revision to nonresidential fixed investment was offset by downward revisions to private inventory investment, personal consumption expenditures, and exports.