More information on the 2020 annual update will be included in the forthcoming May BEA releases three vintages of the current quarterly estimate for GDP: "Advance" estimates are released near the end of the first month following the end of the quarter and are based on source data that are incomplete or subject to further revision by the source agency; "second" and "third" estimates are released near the end of the second and third months, respectively, and are based on more detailed and more comprehensive data as they become available.The table below shows the average revisions to the quarterly percent changes in real GDP between different estimate vintages, without regard to sign.Annual and comprehensive updates are typically released in late July.
audience.
Previous estimates predicted a 3.5 percent decrease in current dollar GDP, in large part due to COVID-19 response measures taken in March.“We know that much of the source data the BEA grabs for advanced estimates are incomplete and subject to revision, so all eyes go to the first revision coming up this week. In the fourth quarter of 2019, real GDP increased 2.1 percent.
One way to gauge whether we need to be braced for an even worse reported contraction is to look at the components of the GDP estimate last month that were most striking. All else equal, the more permanent the changes, the more attenuated the recovery.”Before the era of COVID-19, research suggested that premature deaths among white Americans were rising.
In the 1 st quarter of 2020 GDP at current prices comprised EUR 6 750.9 million. (doi:10.1001/jamanetworkopen.2020.16818)
See who is reporting this week.
That the U.S. dollar’s strength continues apace – no doubt fueled by global investors seeking U.S.-dollar denominated assets as a safe haven during this pandemic – begs the question as to whether export-oriented countries will double-down their efforts and cause our already $500 billion trade imbalance to widen further.”“However, as happens during most recessions, some changes are permanent. The decrease in private inventory investment was mainly in manufacturing, led by petroleum and coal products. 14. For more information, see the BEA releases three vintages of the current quarterly estimate for GDP: "Advance" estimates are released near the end of the first month following the end of the quarter and are based on source data that are incomplete or subject to further revision by the source agency; "second" and "third" estimates are released near the end of the second and third months, respectively, and are based on more detailed and more comprehensive data as they become available.The table below shows the average revisions to the quarterly percent changes in real GDP between different estimate vintages, without regard to sign.Annual and comprehensive updates are typically released in late July. News Release Date Time; Gross Domestic Product, 2nd Quarter 2020 (Advance Estimate) and Annual Update : July 30 : 08:30 AM : Personal Income and Outlays, June 2020 : July 31 : 08:30 AM : U.S. International Trade in Goods and Services, June 2020 : August 5 : 08:30 AM Euro area economic and financial developments by institutional sector: first quarter of 2020. We don't put up a paywall – we believe in free access to information of public interest. Personal Income by State, 2nd Quarter 2020 and Year 2019 : September 24, … With the third estimate, an upward revision to nonresidential fixed investment was offset by downward revisions to private inventory investment, personal consumption expenditures (PCE), and exports (see "Updates to GDP" on page 2).The decrease in PCE reflected a decrease in services, led by health care as well as food services and accommodations. This led to rapid changes in demand, as businesses and schools switched to remote work or canceled operations, and consumers canceled, restricted, or redirected their spending. BEA relies on reports from many agencies for these PCE components so I expect the preliminary numbers for them to be most exposed to a revision.“Intriguingly, a disproportionately larger contraction in imports took place relative to exports, which together helped to soften the blow of the contraction in GDP advance estimates.
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