Wednesday, June 26, 2013

US Q1 GDP Growth Revised down to 1.8 Percent on Falling Exports

Today’s GDP report from the Bureau of Economic Analysis revised the estimate for Q1 growth sharply downward, from 2.4 percent to 1.8 percent. As the following chart shows, the revision makes the rebound from the slowdown at the end of last year look less robust.

The early estimates for each quarter are based on incomplete data supplemented by extrapolations from historical trends, and revisions are common. The revision announced today was larger than usual, however. The average revision (without regard for sign) is 0.2 percentage points from the second estimate to the third. This time it was 0.6 points. The change from April's advance estimate of 2.5 percent was even larger. How can we explain it? >>>Read more

Follow this link to view or download a classroom-ready slideshow with charts and analysis of the latest GDP data

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