by Rick Davis, Consumer Metrics InstituteIn their second estimate of the US GDP for the first quarter of 2021, the Bureau of Economic Analysis (BEA) reported that the US economy was growing at a +6.40% annual rate, essentially unchanged (up 0.01 percentage points (pp) from their previous estimate) and up 2.08pp from the prior quarter.
Written by Rick Davis, Consumer Metrics InstituteBEA Revises Fourth Quarter 2020 GDP Growth Upward to 4.09%In their second estimate of the US GDP for the fourth quarter of 2020, the Bureau of Economic Analysis (BEA) reported that the US economy was growing at a +4.09% annual rate, up 0.07 percentage points (pp) from their previous estimate and down -29.35pp from the prior quarter.
by Rick Davis, Consumer Metrics InstituteIn their first (preliminary) estimate of the US GDP for the fourth quarter of 2020, the Bureau of Economic Analysis (BEA) reported that the US economy was growing at a +4.02% annual rate, down -29.42 percentage points (pp) from the prior quarter.
GDP Data Displays An Uneven Recession
December 22, 2020 - BEA Revises Third Quarter 2020 GDP Growth Slightly Upward to 33.44%:
In their third and final estimate of the US GDP for the third quarter of 2020, the Bureau of Economic Analysis (BEA) reported that the US economy was growing at a +33.44% annual rate, up 0.37 percentage points (pp) from their previous estimate and up 64.83pp from the prior quarter.
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As was the case with the previous estimate, none of the revisions are material. Once again the only minor adjustments worth mentioning were in consumer spending (up +0.22pp in aggregate, and fixed commercial investment (up +0.16pp).