Gross Domestic Product Second Quarter 2019 Third Estimate (Sept. 2019)

Real gross domestic product (GDP) increased at an annual rate of 2.0 percent in the second quarter of 2019 (table 1) according to the ""third"" 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 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.  The deceleration in real GDP in the second quarter primarily reflected downturns in inventory investment exports and nonresidential fixed investment. These downturns were partly offset by accelerations in PCE and federal government spending.

The second-quarter percent change in real GDP was the same as previously estimated. Downward revisions to PCE and nonresidential fixed investment were primarily offset by upward revisions to state and local government spending and exports and a downward revision to imports.