Q4 GDP Revised Down to 2.2% in Third Estimate
Washington, DC, March 28, 2019-Real gross domestic product (GDP) increased at an annual rate of 2.2% in the fourth quarter of 2018, according to the third estimate released by the Bureau of Economic Analysis.
In the third quarter, real GDP increased 3.4%.
The GDP estimate released today is based on more complete source data than was available for the earlier estimate issued last month. In that estimate, the increase in real GDP was 2.6%. With this estimate for the fourth quarter, the general picture of economic growth remains the same; personal consumption expenditures, state and local government spending, and nonresidential fixed investment were revised down; imports, which are a subtraction in the calculation of GDP, were also revised down.