Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the second quarter of 2019 according to the ""advance"" estimate released by the Bureau of Economic Analysis. In the first quarter real GDP increased 3.1 percent. The increase in real GDP in the second quarter reflected positive contributions from personal consumption expenditures (PCE) federal government spending and state and local government spending that were partly offset by negative contributions from private inventory investment exports nonresidential fixed investment and residential fixed investment. Imports which are a subtraction in the calculation of GDP increased.  The deceleration in real GDP in the second quarter reflected downturns in inventory investment exports and nonresidential fixed investment. These downturns were partly offset by accelerations in PCE and federal government spending.

 

For the first quarter of 2019 real GDP is estimated to have increased 3.1 percent (table 1) the same as previously published. Downward revisions to exports state and local government spending and private inventory investment were offset by upward revisions to PCE and federal government spending.

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