Q2 GDP Remains Steady at 2.0% in Third Estimate
Washington, DC, September 26, 2019-Real gross domestic product (GDP) increased at an annual rate of 2.0% in Q2, according to the third estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 3.1%.
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 also 2.0%. Downward revisions to personal consumption expenditures (PCE) and nonresidential fixed investment were primarily offset by upward revisions to state and local government spending and exports. Imports, which are a subtraction in the calculation of GDP, were revised down.