Gross Domestic Product

Real gross domestic product (GDP) increased 3.1 percent in the first quarter of 2019, according to the “third” estimate released by the Bureau of Economic Analysis. The growth rate was unrevised from the “second” estimate released in May. In the fourth quarter of 2018, real GDP rose 2.2 percent.

Real gross domestic product increased 3.1 percent in the first quarter of 2019, according to the “second” estimate released by the Bureau of Economic Analysis. The growth rate was 0.1 percentage point lower than the “advance” estimate released in April. In the fourth quarter of 2018, real GDP rose 2.2 percent.

Real gross domestic product (GDP) increased in 49 states and the District of Columbia in the fourth quarter of 2018.  The percent change in real GDP in the fourth quarter ranged from 6.6 percent in Texas to 0.0 percent in Delaware.

Wholesale trade, mining, and information services were the leading contributors to the increase in real GDP nationally. Mining and wholesale trade were the leading contributors to the increase in real GDP in Texas, the fastest growing state.
 

Real gross domestic product increased 3.2 percent in the first quarter of 2019, according to the “advance” estimate released by the Bureau of Economic Analysis. In the fourth quarter of 2018, real GDP increased 2.2 percent.

Wholesale trade; mining; and information were the leading contributors to the increase in U.S. economic growth in the fourth quarter of 2018. Overall, 15 of 22 industry groups contributed to the 2.2 percent increase in real GDP in the fourth quarter.

The digital economy accounted for 6.9 percent of the U.S. gross domestic product, or $1.35 trillion, in 2017, according to a new batch of statistics released by the Bureau of Economic Analysis. 

How does that compare with traditional U.S. industries? The digital economy ranked just below professional, scientific, and technical services, which accounted for 7.4 percent of GDP, and just above wholesale trade, with a 6.0 percent share. 

By the end of April, key national economic indicators will be on their original 2019 schedule, as the Bureau of Economic Analysis’ timetable of releases continues to recover from disruptions earlier in the year.

The advance, or first, estimate of gross domestic product for the first quarter will be released April 26 at 8:30 a.m., in accordance with BEA’s original calendar. The second and third estimates of first quarter GDP also are back on their original schedule.

The rest of BEA’s national statistics will catch up when data on personal income and consumer spending are released in late April.

Real gross domestic product (GDP) increased 2.2 percent in the fourth quarter of 2018, according to the “third” estimate released by the Bureau of Economic Analysis. The growth rate was revised down 0.4 percentage point from the “initial” estimate released in February. In the third quarter, real GDP increased 3.4 percent.

When the Bureau of Economic Analysis estimates the nation’s gross domestic product on March 28, it will officially be a “third estimate” – even though we’ve only estimated GDP for that quarter once before.

Wondering where the second estimate went? Don’t worry, we didn’t lose count. The unusual naming sequence reflects changes to our release schedule caused by the lapse in federal funding earlier this year. Many of the principal source data BEA uses to produce our first two estimates of GDP for each quarter were substantially delayed.

The Bureau of Economic Analysis plans to produce new economic data for Puerto Rico this year that could lay the groundwork for later estimating the island’s gross domestic product.

BEA plans to develop and publish later this year estimates for specific components that would feed into Puerto Rico’s GDP, such as consumer spending, business investment, and trade in goods. Estimates for these components will cover 2012 through 2017 and will be available in current dollars and on an inflation-adjusted basis.