Q3 GDP Revised Up to 33.4% in Third Estimate
Washington, DC, December 22, 2020-Real gross domestic product (GDP) increased at an annual rate of 33.4% in Q3 2020, according to the third estimate released by the Bureau of Economic Analysis.
Q3 2020 GDP, adjusted for inflation, was 2.9% below the Q3 2019 level.
In the second quarter, real GDP decreased 31.4%.
The third estimate of GDP 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 33.1%. The upward revision primarily reflected larger increases in personal consumption expenditures (PCE) and nonresidential fixed investment.