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Economy

Economic Data (USA)

Friday, May 27, 2016

Gross Domestic Product (GDP) "Preliminary" Released Today for Q1, 2016

U.S. Gross Domestic Product (GDP) "preliminary" report for the first quarter of 2016 was released this morning by the Commerce Department's Bureau of Economic Analysis (BEA):

Atlanta Fed Prediction: +0.6%
Actual: +0.8%

The highlighted percentage represents the quarter-to-quarter change in the Gross Domestic Product for the United States (preliminary = second estimate.)  The "predicted" figure is what economists were expecting, while the "actual" is the actual or real figure.

  • On June 28, 2016, a "final" GDP report will be released by the BEA, which will contain the most accurate and authoritative data for Q1 2016.

    The GDP is a very broad measure of economic activity for the entire United States, covering all sectors of the economy. The Commerce Department defines real GDP as, "the output of goods and services produced by labor and property located in the United States."

    Click here to view the full Commerce Department report (PDF).

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