Gross Domestic Product (GDP): First Estimate for Q1, 2023

Earlier this morning, the Commerce Department's Bureau of Economic Analysis (BEA) released its first estimate for U.S. Real Gross Domestic Product (GDP) for the first quarter of 2023:

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Predicted: 1.5%

• Actual: +1.1%

The yellow-highlighted percentage represents the first estimate of the quarter-to-quarter change for Real Gross Domestic Product for the entire United States.

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• Core PCE Price Index: +4.9%

 

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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."

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CHART: Personal Income
+ Outlays + Saving - Q1 2023 UPDATE

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

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Gross Domestic Product (GDP): First Estimate for Q3, 2022

Earlier this morning, the Commerce Department's Bureau of Economic Analysis (BEA) released its first estimate for U.S. Real Gross Domestic Product (GDP) for the third quarter of 2022:

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Predicted: +2.5%

• Actual: +2.6%

The yellow-highlighted percentage represents the first estimate of the quarter-to-quarter change for Real Gross Domestic Product for the entire United States.

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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."

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CHART: GDP - Q3 2022 - First Estimate

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Gross Domestic Product (GDP): Final Estimate for Q1, 2022

Earlier this morning, the Commerce Department's Bureau of Economic Analysis (BEA) released its final estimate for U.S. Real Gross Domestic Product (GDP) for the first quarter of 2022:

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Predicted: +1.5%

• Actual: -1.6%

The yellow-highlighted percentage represents the first estimate of the quarter-to-quarter change for Real Gross Domestic Product for the entire United States.

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From Today's Report:

"...Personal Income: Current-dollar personal income increased $247.2 billion (revised) in the first quarter to a level of $21.26 trillion. In the fourth quarter, personal income increased $186.2 billion. The increase primarily reflected an increase in compensation that was partly offset by a decrease in government social benefits. In the first quarter, government assistance payments in the form of social benefits to households decreased as provisions of several federal programs expired or continued to taper off.


Disposable personal income decreased $58.8 billion (revised), or 1.3 percent, in the first quarter, in contrast to an increase of $72.4 billion, or 1.6%, in the fourth quarter. Real disposable personal income decreased 7.8% (revised), compared with a decrease of 4.5%. Personal saving was $1.02 trillion in the first quarter (revised), compared with $1.45 trillion in the fourth quarter. The personal saving rate -- personal saving as a percentage of disposable personal income -- was 5.6% (revised) in the first quarter, compared with 7.9% in the fourth quarter..."

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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."

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CHART: GDP - Q1 2022 - Final Estimate

 

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Gross Domestic Product (GDP): First Estimate for Q1, 2022

Earlier this morning, the Commerce Department's Bureau of Economic Analysis (BEA) released its first estimate for U.S. Real Gross Domestic Product (GDP) for the first quarter of 2022:

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Predicted: +1.2%

• Actual: -1.4%

The yellow-highlighted percentage represents the first estimate of the quarter-to-quarter change for Real Gross Domestic Product for the entire United States.

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From Today's Report:

"...Disposable personal income increased $216.6 billion, or 4.8 percent, in the first quarter, compared with an increase of $20.1 billion, or 0.4 percent, in the fourth quarter. Real disposable personal income decreased 2.0 percent, compared with a decrease of 5.6 percent.

Personal saving was $1.21 trillion in the first quarter, compared with $1.39 trillion in the fourth quarter. The personal saving rate -- personal saving as a percentage of disposable personal income -- was 6.6 percent in the first quarter, compared with 7.7 percent in the fourth quarter.

In the first quarter, an increase in COVID-19 cases related to the Omicron variant resulted in continued restrictions and disruptions in the operations of establishments in some parts of the country. Government assistance payments in the form of forgivable loans to businesses, grants to state and local governments, and social benefits to households all decreased as provisions of several federal programs expired or tapered off. The full economic effects of the COVID-19 pandemic cannot be quantified in the GDP estimate for the first quarter because the impacts are generally embedded in source data and cannot be separately identified.

Personal saving was $1.21 trillion in the first quarter, compared with $1.39 trillion in the fourth quarter. The personal saving rate -- personal saving as a percentage of disposable personal income -- was 6.6 percent in the first quarter, compared with 7.7 percent in the fourth quarter..."

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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."

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CHART: GDP - Q1 2022 - First Estimate

 

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Gross Domestic Product (GDP): First Estimate for Q4, 2021

Earlier this morning, the Commerce Department's Bureau of Economic Analysis (BEA) released its first estimate for U.S. Real Gross Domestic Product (GDP) for the fourth quarter of 2021:

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Predicted: +6.0%

• Actual: +6.9%
  
  
• Real Consumer Spending: +3.3%

The yellow-highlighted percentage represents the first estimate of the quarter-to-quarter change for Real Gross Domestic Product for the entire United States.

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From Today's Report:

"...COVID-19 Impact On The Fourth-Quarter 2021 GDP Estimate

The increase in fourth quarter GDP reflected the continued economic impact of the COVID-19 pandemic. In the fourth quarter, COVID-19 cases resulted in continued restrictions and disruptions in the operations of establishments in some parts of the country. Government assistance payments in the form of forgivable loans to businesses, grants to state and local governments, and social benefits to households all decreased as provisions of several federal programs expired or tapered off..."

"...Personal saving was $1.34 trillion in the fourth quarter, compared with $1.72 trillion in the third quarter. The personal saving rate -- personal saving as a percentage of disposable personal income -- was 7.4% in the fourth quarter, compared with 9.5% in the third quarter..."

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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."

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 CHART: GDP - Q4 2021 - First Estimate

 

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Gross Domestic Product (GDP): First Estimate for Q3, 2021

Earlier this morning, the Commerce Department's Bureau of Economic Analysis (BEA) released its first estimate for U.S. Real Gross Domestic Product (GDP) for the third quarter of 2021:

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Predicted: +2.5%

• Actual: +2.0%
  
  
• Real Consumer Spending, Quarter-to-Quarter Change: +1.6%

The yellow-highlighted percentage represents the first estimate of the quarter-to-quarter change for Real Gross Domestic Product for the entire United States.

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From Today's Report:

"...Coronavirus (COVID-19) Impact on the Third-Quarter 2021 GDP Estimate

The increase in third quarter GDP reflected the continued economic impact of the COVID-19 pandemic. A resurgence of COVID-19 cases resulted in new restrictions and delays in the reopening of establishments in some parts of the country. Government assistance payments in the form of forgivable loans to businesses, grants to state and local governments, and social benefits to households all decreased. The full economic effects of the COVID-19 pandemic cannot be quantified in the GDP estimate for the third quarter because the impacts are generally embedded in source data and cannot be separately identified..."

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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."

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CHART: GDP - Q3 2021 - First Estimate

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Gross Domestic Product (GDP): First Estimate for Q2, 2021

Earlier this morning, the Commerce Department's Bureau of Economic Analysis (BEA) released its first estimate for U.S. Real Gross Domestic Product (GDP) for the second quarter of 2021:

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Predicted: +9.0%

• Actual: +6.5%
  
  
• Real Consumer Spending, Quarter-to-Quarter Change: +11.8%

The yellow-highlighted percentage represents the first estimate of the quarter-to-quarter change for Real Gross Domestic Product for the entire United States.

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From Today's Report:

"...Coronavirus (COVID-19) Impact on the Second-Quarter 2021 GDP Estimate

The increase in second quarter GDP reflected the continued economic recovery, reopening of establishments, and continued government response related to the COVID-19 pandemic. In the second quarter, government assistance payments in the form of loans to businesses
and grants to state and local governments increased, while social benefits to households, such as the direct economic impact payments, declined.  The full economic effects of the COVID-19 pandemic cannot be quantified in the GDP estimate for the second quarter because the impacts are generally embedded in source data and cannot be separately identified..."

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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."

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CHART: GDP - Q2 2021 - First Estimate

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Gross Domestic Product (GDP): Second Estimate for Q2, 2020

Earlier this morning, the Commerce Department's Bureau of Economic Analysis (BEA) released its second estimate for U.S. Real Gross Domestic Product (GDP) for the second quarter of 2020:

Predicted: -32.9%
Actual: -31.7%

The yellow-highlighted percentage represents the quarter-to-quarter change for Real Gross Domestic Product for the entire United States.

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"...Corporate Profits

Profits from current production (corporate profits with inventory valuation and capital consumption adjustments) decreased $226.9 billion in the second quarter, compared with a decrease of $276.2 billion in the first quarter.

Profits of domestic financial corporations increased $39.5 billion in the second quarter, in contrast to a decrease of $42.2 billion in the first quarter. Profits of domestic nonfinancial corporations decreased $170.1 billion, compared with a decrease of $190.5 billion. Rest-of-the-world profits decreased $96.2 billion, compared with a decrease of $43.5 billion. In the second quarter, receipts decreased $139.7 billion, and payments decreased $43.4 billion..."

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"...Coronavirus (COVID-19) Impact on the Second-Quarter 2020 GDP Estimate

The decline in second quarter GDP reflected the response to COVID-19, as “stay-at-home” orders issued in March and April were partially lifted in some areas of the country in May and June, and government pandemic assistance payments were distributed to households and businesses. This led to rapid shifts in activity, as businesses and schools continued remote work and consumers and businesses canceled, restricted, or redirected their spending. The full economic effects of the COVID-19 pandemic cannot be quantified in the GDP estimate for the second quarter of 2020 because the impacts are generally embedded in source data and cannot be separately identified..."

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CHART: GDP, Second Quarter 2020, Second Estimate

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• On September 30, 2020, a third and "final" GDP estimate will be released by the BEA, which will contain the most accurate and authoritative data for the second quarter of 2020.

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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Gross Domestic Product (GDP): First Estimate for Q2, 2020

Earlier this morning, the Commerce Department's Bureau of Economic Analysis (BEA) released its first estimate for U.S. Real Gross Domestic Product (GDP) for the second quarter of 2020:

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Predicted: -32.0%

• Actual: -32.9%
  
  
• Real Consumer Spending, Quarter-to-Quarter Change: -34.6%

The yellow-highlighted percentage represents the first estimate of the quarter-to-quarter change for Real Gross Domestic Product for the entire United States.

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"...Coronavirus (COVID-19) Impact on the Second-Quarter 2020 GDP Estimate

The decline in second quarter GDP reflected the response to COVID-19, as “stay-at-home” orders issued in March and April were partially lifted in some areas of the country in May and June, and government pandemic assistance payments were distributed to households and businesses. This led to rapid shifts in activity, as businesses and schools continued remote work and consumers and businesses canceled, restricted, or redirected their spending. The full economic effects of the COVID-19 pandemic cannot be quantified in the GDP estimate for the second quarter of 2020 because the impacts are generally embedded in source data and cannot be separately identified. For more information, see the Technical Note...

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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."

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CHART: GDP - Q2 2020 - First Estimate

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• Click here to view the full Commerce Department report (PDF).
  
  
• Gross Domestic Product, Second Quarter 2020 - Technical Note (PDF)

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Latest GDPNow Real Gross Domestic Product Forecast for Q2:2020

The Federal Reserve Bank of Atlanta released its latest GDPNow forecast for the growth rate of real gross domestic product (GDP) for the second quarter of 2020.

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Latest Forecast for Q2, 2020: -48.5%

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Previous Reading (June 4, 2020): -53.8%)

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Chart: GDPNow Forecast - Q2 | 2020 - June 9, 2020

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From Today's Report:

"...The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2020 is -48.5 percent on June 9, up from -53.8 percent on June 4. After last Friday’s employment release from the U.S. Bureau of Labor Statistics and this morning’s wholesale trade release from the U.S. Census Bureau, increases in the nowcasts of second-quarter real personal consumption expenditure growth and real gross private domestic investment growth were partly offset by decreases in the nowcasts of real government spending growth and real net exports.

The next GDPNow update is Tuesday, June 16, 2020..."

About The GDPNow Forecast Model:

"...GDPNow is not an official forecast of the Atlanta Fed. Rather, it is best viewed as a running estimate of real GDP growth based on available data for the current measured quarter. There are no subjective adjustments made to GDPNow the estimate is based solely on the mathematical results of the model. In particular, it does not capture the impact of COVID-19 beyond its impact on GDP source data and relevant economic reports that have already been released. It does not anticipate the impact of COVID-19 on forthcoming economic reports beyond the standard internal dynamics of the model..."

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• Click here to view recent GDPNow forecast (PDF).
  
  
•  Click here to view the full GDPNow report.

 

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Gross Domestic Product (GDP): Second Estimate for Q1, 2020

Earlier this morning, the Commerce Department's Bureau of Economic Analysis (BEA) released its second estimate for U.S. Real Gross Domestic Product (GDP) for the first quarter of 2020:

Predicted: -5.0%
Actual: -5.0%

The yellow-highlighted percentage represents the quarter-to-quarter change for Real Gross Domestic Product for the entire United States.

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"...Corporate Profits

Profits from current production (corporate profits with inventory valuation and capital consumption adjustments) decreased $295.4 billion in the first quarter, in contrast to an increase of $53.0 billion in the fourth quarter (table 10).

Profits of domestic financial corporations decreased $67.4 billion in the first quarter, in contrast to an increase of $0.7 billion in the fourth quarter. Profits of domestic nonfinancial corporations decreased $169.5 billion, in contrast to an increase of $53.7 billion. Rest-of-the-world profits decreased $58.6 billion, compared with a decrease of $1.4 billion. In the first quarter, receipts decreased $72.7 billion,
and payments decreased $14.2 billion..."

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"...Coronavirus (COVID-19) Impact on the First-Quarter 2020 GDP Estimate

The decline in first quarter GDP reflected the response to the spread of COVID-19, as governments issued “stay-at-home” orders in March. This led to rapid changes in demand, as businesses and schools switched to remote work or canceled operations, and consumers canceled, restricted, or redirected their spending.  The full economic effects of the COVID-19 pandemic cannot be quantified in the GDP estimate for the first quarter of 2020 because the impacts are generally embedded in source data and cannot be separately identified..."

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GDP, First Quarter 2020, Second Estimate

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• On June 25, 2020, a third and "final" GDP estimate will be released by the BEA, which will contain the most accurate and authoritative data for the first quarter of 2020.

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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Gross Domestic Product (GDP): First Estimate for Q1, 2020

Earlier this morning, the Commerce Department's Bureau of Economic Analysis (BEA) released its first estimate for U.S. Real Gross Domestic Product (GDP) for the first quarter of 2020:

Predicted: -5.0%
Actual: -4.8%

The yellow-highlighted percentage represents the first estimate of the quarter-to-quarter change for Real Gross Domestic Product for the entire United States.

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From Today's Report: Coronavirus (COVID-19) Impact on First-Quarter 2020 GDP

Real GDP decreased 4.8 percent (annual rate) in the first quarter of 2020, following a 2.1 percent increase in the fourth quarter of 2019. The decline in first quarter GDP was, in part, due to the response to the spread of COVID-19, as governments issued “stay-at-home” orders in March. This led to rapid changes in demand, as businesses and schools switched to remote work or canceled operations, and consumers canceled, restricted, or redirected their spending. The full economic effects of the COVID-19 pandemic cannot be quantified in the GDP estimate for the first quarter of 2020

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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."

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Chart: GDP - Q1 2020 - First Estimate

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

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Gross Domestic Product (GDP): Third (Final) Estimate for Q4, 2019

Earlier this morning, the Commerce Department's Bureau of Economic Analysis (BEA) released its third and final estimate for U.S. Real Gross Domestic Product (GDP) for the fourth quarter of 2019:

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Predicted: +2.1%

• Actual: +2.1%

The yellow-highlighted percentage represents the quarter-to-quarter change for Real Gross Domestic Product for the entire United States.

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"...Corporate Profits, Fourth Quarter and 2019

Profits from current production (corporate profits with inventory valuation and capital consumption adjustments) increased $53.0 billion in the fourth quarter, in contrast to a decrease of $4.7 billion in the third quarter.

Profits of domestic financial corporations increased $0.7 billion in the fourth quarter, in contrast to a decrease of $4.7 billion in the third quarter. Profits of domestic nonfinancial corporations increased $53.7 billion, in contrast to a decrease of $5.5 billion. Rest-of-the-world profits decreased $1.4 billion, in contrast to an increase of $5.5 billion. In the fourth quarter, receipts increased $3.4 billion, and payments increased $4.8 billion.

In 2019, profits from current production were unchanged, compared with an increase of $68.7 billion in 2018. Profits of domestic financial corporations increased $7.1 billion, compared with an increase of $11.1 billion. Profits of domestic nonfinancial corporations decreased $36.4 billion, in contrast to an increase of $10.0 billion. Rest-of-the-world profits increased $29.3 billion, compared with an increase of $47.6 billion..."

 
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Chart: GDP, Fourth Quarter 2019, Third / Final Estimate

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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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Gross Domestic Product (GDP): First Estimate for Q4, 2019

Earlier this morning, the Commerce Department's Bureau of Economic Analysis (BEA) released its first estimate for U.S. Real Gross Domestic Product (GDP) for the fourth quarter of 2019:

Predicted: +2.1%
Actual: +2.1%

The yellow-highlighted percentage represents the first estimate of the quarter-to-quarter change for Real Gross Domestic Product for the entire United States.

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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."

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Chart: GDP - Q4 2019 - First Estimate

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Gross Domestic Product (GDP): Third (Final) Estimate for Q3, 2019

Earlier this morning, the Commerce Department's Bureau of Economic Analysis (BEA) released its third and final estimate for U.S. Real Gross Domestic Product (GDP) for the third quarter of 2019:

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Predicted: +2.1%

• Actual: +2.1%

The yellow-highlighted percentage represents the quarter-to-quarter change for Real Gross Domestic Product for the entire United States.

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"...Corporate Profits

Profits from current production (corporate profits with inventory valuation and capital consumption adjustments) decreased $4.7 billion in the third quarter, in contrast to an increase of $75.8 billion in the second quarter.

Profits of domestic financial corporations decreased $4.7 billion in the third quarter, in contrast to an increase of $2.5 billion in the second quarter. Profits of domestic nonfinancial corporations decreased $5.5 billion, in contrast to an increase of $34.7 billion. Rest-of-the-world profits increased $5.5 billion, compared with an increase of $38.7 billion. In the third quarter, receipts decreased $10.0 billion, and payments decreased $15.5 billion..."

 
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Chart: GDP, Third Quarter 2019, Third / Final Estimate

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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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Gross Domestic Product (GDP): Second Estimate for Q3, 2019

Earlier this morning, the Commerce Department's Bureau of Economic Analysis (BEA) released its second estimate for U.S. Real Gross Domestic Product (GDP) for the third quarter of 2019:

Predicted: +1.9%
Actual: +2.1%

The yellow-highlighted percentage represents the first estimate of the quarter-to-quarter change for Real Gross Domestic Product for the entire United States.

============

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."

============

Chart: GDP - Q3 2019 - Second Estimate

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

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Gross Domestic Product (GDP): First Estimate for Q3, 2019

Earlier this morning, the Commerce Department's Bureau of Economic Analysis (BEA) released its first estimate for U.S. Real Gross Domestic Product (GDP) for the third quarter of 2019:

Predicted: +1.7%
Actual: +1.9%

The yellow-highlighted percentage represents the first estimate of the quarter-to-quarter change for Real Gross Domestic Product for the entire United States.

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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."

============

Chart: GDP - Q3 2019 - First Estimate

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

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Gross Domestic Product (GDP): Third (Final) Estimate for Q2, 2019

Earlier this morning, the Commerce Department's Bureau of Economic Analysis (BEA) released its third and final estimate for U.S. Real Gross Domestic Product (GDP) for the second quarter of 2019:

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Predicted: +2.0%

• Actual: +2.0%

The yellow-highlighted percentage represents the quarter-to-quarter change for Real Gross Domestic Product for the entire United States.

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"...Corporate Profits

Profits from current production (corporate profits with inventory valuation and capital consumption adjustments) increased $75.8 billion in the second quarter, in contrast to a decrease of $78.7 billion in the first quarter.

Profits of domestic financial corporations increased $2.5 billion in the second quarter, compared with an increase of $22.2 billion in the first quarter. Profits of domestic nonfinancial corporations increased $34.7 billion, in contrast to a decrease of $108.2 billion. Rest-of-the-world profits increased $38.7 billion, compared with an increase of $7.3 billion. In the second quarter, receipts increased $25.3 billion, and payments decreased $13.4 billion..."

 
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Chart: GDP, Second Quarter 2019, Third / Final Estimate

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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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Gross Domestic Product (GDP): Second Estimate for Q2, 2019

Earlier this morning, the Commerce Department's Bureau of Economic Analysis (BEA) released its second estimate for U.S. Real Gross Domestic Product (GDP) for the second quarter of 2019 :

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Predicted: +2.0%

• Actual: +2.0%

The yellow-highlighted percentage represents the quarter-to-quarter change for Real Gross Domestic Product for the entire United States.

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"...Corporate Profits

Profits from current production (corporate profits with inventory valuation and capital consumption adjustments) increased $105.8 billion in the second quarter, in contrast to a decrease of $78.7 billion in the first quarter.

Profits of domestic financial corporations increased $4.0 billion in the second quarter, compared with an increase of $22.2 billion in the first quarter. Profits of domestic nonfinancial corporations increased $43.5 billion, in contrast to a decrease of $108.2 billion. Rest-of-the-world profits increased $58.3 billion, compared with an increase of $7.3 billion. In the second quarter, receipts increased $39.9 billion, and payments decreased $18.5 billion..."

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GDP, Second Quarter 2019, Second Estimate

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• On September 26, 2019 a third and "final" GDP estimate will be released by the BEA, which will contain the most accurate and authoritative data for the second quarter of  2019.

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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Gross Domestic Product (GDP): First Estimate for Q2, 2019

Earlier this morning, the Commerce Department's Bureau of Economic Analysis (BEA) released its first estimate for U.S. Real Gross Domestic Product (GDP) for the second quarter of 2019:

Predicted: +1.9%
Actual: +2.1%

The yellow-highlighted percentage represents the quarter-to-quarter change for Real Gross Domestic Product for the entire United States.

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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."

============

Chart: GDP - Q2 2019 - First Estimate

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

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