Second Estimate of Q2 GDP Revised Down to 1.1% but Remains Positive

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Second Estimate of Q2 GDP Revised Down to 1.1% but Remains Positive

Washington, DC, August 26, 2016—Real gross domestic product increased at an annual rate of 1.1% in the second quarter of 2016, according to the second estimate released by the Bureau of Economic Analysis.

In the first quarter, real GDP increased 0.8%.

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 1.2%. With this second estimate for the second quarter, the general picture of economic growth remains the same; revisions to the components of GDP are small.