Q2 GDP Revised Up to 4.2%
Washington, DC, August 29, 2018-Real gross domestic product (GDP) increased at an annual rate of 4.2% in the second quarter of 2018, according to the second estimate released by the Bureau of Economic Analysis.
In the first quarter, real GDP increased 2.2%.
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 4.1%. With this second estimate for the second quarter, the general picture of economic growth remains the same; the revision primarily reflected upward revisions to nonresidential fixed investment and private inventory investment that were partly offset by a downward revision to personal consumption expenditures. Imports, which are a subtraction in the calculation of GDP, were revised down.