Wednesday, August 30, 2023

Quick Review of The GDP report 2Q-2023, 2nd estimate

The BEA released the 2nd estimate of 2Q-2023 GDP...

Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the second quarter of 2023 (table 1), according to the "second" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 2.0 percent.

The GDP estimate released today is based on more complete source data than were available for the "advance" estimate issued last month. In the advance estimate, the increase in real GDP was 2.4 percent (refer to "Updates to GDP"). The updated estimates primarily reflected downward revisions to private inventory investment and nonresidential fixed investment that were partly offset by an upward revision to state and local government spending.

Here is a screenshot of the data page... 


Probably the most interesting thing is the GDI of +0.5%, which is the first positive, since 3rd Quarter of 2022.


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