Q1 GDP Revised Down A Hair to 1.5% in Second Estimate
Washington, DC, May 26, 2022-Real gross domestic product (GDP) decreased at an annual rate of 1.5% in Q1 2022, according to the second estimate released by the Bureau of Economic Analysis. In Q4, real GDP increased 6.9%.
The GDP estimate released today 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 1.4%.
According to Alan Beaulieu of ITR Economics, Q1's results are a "technical anomaly and not a reflection of the true performance of the nation’s economy."
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