First Quarter GDP Revised from 2.2 to 2.0 percent

Real GDP grew at a seasonally adjusted annual rate of 2.0 percent during the first quarter of 2018, according to the Bureau of Economic Analysis’s second estimate, down from 2.2 percent in the “second” estimate. The general picture of economic growth remained the same.

The percent change primarily reflected a downward revision to private inventory investment, PCE and exports. The downward revisions were partially offset by an upward revision to nonresidential fixed investment.

Read the BEA release.

About Stephen Newton

Stephen Newton is an economic research associate at ABA.
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