BEA Releases Advanced Estimate of Second Quarter GDP (July 2018)
The Bureau of Economic Analysis released its advanced estimate of Second Quarter 2018 Gross Domestic Product (“GDP”), showing an annualized growth rate of 4.1% during the April 2018 through June 2018 time period. The release also revised First Quarter 2018 GDP upwards from the previous estimate of 2.0%, to 2.2% annualized growth during the January 2018 through March 2018 period.
GDP growth during the second quarter reflected positive contributions from personal consumption expenditures, exports, nonresidential fixed investment, federal government spending, and state and local government spending that were partly offset by negative contributions from private inventory investment and residential fixed investment. Imports, which are a subtraction in the calculation of GDP, increased.
The full BEA press release on the advanced estimate of Second Quarter GDP can be accessed in the link below:
The next release - for the second estimate of Second Quarter GDP 2018 – will be published on August 29, 2018.