Q1 GDP Revised Down to 2.0% in Third Estimate

Washington, DC, June 28, 2018-Real gross domestic product (GDP) increased at an annual rate of 2.0% in the first quarter of 2018, according to the third estimate released by the Bureau of Economic Analysis.

In the fourth quarter, real GDP increased 2.9%.

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 2.2%.

With this third estimate for the first quarter, the general picture of economic growth remains the same; private inventory investment and personal consumption expenditures were revised down.