First Quarter GDP Revised from 2.3% to 2.2%

Real GDP grew at a seasonally adjusted annual rate of 2.2% during the first quarter of 2018, according to the Bureau of Economic Analysis’s second estimate, down from 2.3% in the “advance” estimate. The general picture of economic growth remained the same.

The percent change primarily reflected a downward revision to private inventory investment and residential fixed investment.

Personal consumption expenditures and government expenditures were unchanged in the second estimate.

Read the BEA release.

About Jack McCabe

Jack McCabe is a research associate in the Economic Policy and Research group at the ABA.
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