September 29, 2004
Second Quarter GDP Growth: Better Than We Thought
The Bureau of Economic Analysis announced today that second quarter real GDP growth has been revised upward to 3.3 percent (annualized), from the previous estimate of 2.8 percent. Why the change? We'll let the BEA do the talking:
The upward revision to the percent change in real GDP primarily reflected a downward revision to imports and upward revisions to private inventory investment and to exports.
The gory details can be found here.