Q2 GDP Revised up to -31.7% Annual Rate

From the BEA: Gross Domestic Product, 2nd Quarter 2020 (Second Estimate); Corporate Profits, 2nd Quarter 2020 (Preliminary Estimate) Real gross domestic product (GDP) decreased at an annual rate of 31.7 percent in the second quarter of 2020 , according to the "second" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP decreased 5.0 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 decrease in real GDP was 32.9 percent. With the second......(read more)

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