GDP 2nd Quarter 4% Annualized. Benchmark revision.

Posted - Filed under GDP, Release Observations.

GDP Benchmark Revisions

Click to enlarge

The Bureau of Economic Analysis this morning released its first, “Advance” Estimate of 2nd Quarter GDP, together with the usual Benchmark Revision to the past three years’, plus revisions to select components going back to 1999.  (The effect of the latter revisions were negligible on total GDP.)

GDP Data & Tables Page for more information.

 

GDP was estimated to have grown at a rate of 4.0% annualized n the 2nd quarter of 2014, following a (revised) drop of 2.1% in the 1st quarter.  Last month, the estimate of Q1’s drop was 2.9%.

Private Investment contributed 2.7% of Q2’s growth (table here) and within that 1.7% came from a build-up of inventories.