Q1 GDP Steady at 6.4% in Second Estimate

Washington, DC, May 27, 2021-Real gross domestic product (GDP) increased at an annual rate of 6.4% in Q1 2021, according to the second estimate released by the Bureau of Economic Analysis. In the fourth quarter of 2020, real GDP increased 4.3%.

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 increase in real GDP was also 6.4%. Upward revisions to consumer spending and nonresidential fixed investment were offset by downward revisions to exports and private inventory investment. Imports, which are a subtraction in the calculation of GDP, were revised up.