BEA Releases Third Estimate of Second Quarter 2016 Gross Domestic Product (Sept. 2016)
The Bureau of Economic Analysis released its latest gauge of second quarter gross domestic product (GDP), showing growth at a 1.4 percent inflation-adjusted annual rate after the first quarter’s 0.8 percent. This is the “third” estimate, based on more complete source data than were available for the “second” estimate issued last month. In that second estimate, the increase in real GDP was 1.1 percent.
Despite the better reading, the growth rate for the first half of the year is just above 1 percent. That is a significant slowdown from the expansion’s 2.1 percent average annual rate; which itself is the weakest of any period of growth since 1949.
The full press release is accessible via the link below:
Next release is October 28, 2016 for the Advance Estimate, Third Quarter, 2016 Gross Domestic Product