Q2 GDP Revised Down Slightly in Second Estimate
Washington, DC, August 29, 2019-Real gross domestic product (GDP) increased at an annual rate of 2.0% in Q2 2019, according to the second 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 advance estimate issued last month. In the advance estimate, the increase in real GDP was 2.1%.
The revision primarily reflected downward revisions to state and local government spending, exports, private inventory investment, and residential investment that were partly offset by an upward revision to personal consumption expenditures. Imports which are a subtraction in the calculation of GDP, were unrevised.