Gross Domestic Product

Real gross domestic product (GDP) decreased at an annual rate of 31.7 percent in the second quarter of 2020, according to the “second” estimate released by the Bureau of Economic Analysis. The change was 1.2 percentage points higher than the “advance” estimate released in July. In the first quarter of 2020, real GDP decreased 5.0 percent. For more details, including source data, see the Technical Note.

Second-quarter GDP highlight

Real gross domestic product (GDP) decreased at an annual rate of 32.9 percent in the second quarter of 2020, according to the “advance” estimate released by the Bureau of Economic Analysis. In the first quarter of 2020, real GDP decreased 5.0 percent. For more information, see the Technical Note.

It’s time for BEA’s annual update of gross domestic product and related statistics. That means when we publish second quarter GDP numbers July 30, we’ll also update GDP estimates for the first quarter of 2020 and the previous five years.

Real gross domestic product (GDP) decreased in all 50 states and the District of Columbia in the first quarter of 2020. The percent change in real GDP in the first quarter ranged from –1.3 percent in Nebraska to –8.2 percent in New York and Nevada.

Accommodation and food services; finance and insurance; and health care and social assistance industries were the leading contributors to the 5.0 percent (annual rate) decrease in gross domestic product (GDP) in the first quarter of 2020.

Real gross domestic product (GDP) decreased 5.0 percent in the first quarter of 2020, according to the “third” estimate released by the Bureau of Economic Analysis. The decline is the same as in the “second” estimate released in May. In the fourth quarter of 2019, real GDP increased 2.1 percent. For more information, see the Technical Note.

Real gross domestic product (GDP) decreased 5.0 percent in the first quarter of 2020, according to the “second” estimate released by the Bureau of Economic Analysis. The change was 0.2 percentage point lower than the “advance” estimate released in April. In the fourth quarter of 2019, real GDP increased 2.1 percent. For more information, see the Technical Note.

Real gross domestic product (GDP) decreased 4.8 percent in the first quarter of 2020, according to the “advance” estimate released by the Bureau of Economic Analysis. In the fourth quarter of 2019, real GDP increased 2.1 percent.

Real gross domestic product (GDP) increased in 48 states and the District of Columbia in the fourth quarter of 2019. The percent change in real GDP in the fourth quarter ranged from 3.4 percent in Washington and Utah to -0.1 percent in West Virginia.

Retail trade, finance and insurance, and utilities were the leading contributors to the increase in U.S. economic growth in the fourth quarter of 2019. Overall, 17 of 22 industry groups contributed to the 2.1 percent increase in real GDP in the fourth quarter.