BEA News: Gross Domestic Product, 1st Quarter 2020 (Second Estimate); Corporate Profits, 1st Quarter 2020 (Preliminary Estimate)

The U.S. Bureau of Economic Analysis (BEA) has issued the following news release today:

Real gross domestic product (GDP) decreased 5.0 percent in the first quarter of 2020, according to the “second” estimate released by the Bureau of Economic Analysis. The change was 0.2 percentage point lower than the “advance” estimate released in April. In the fourth quarter of 2019, real GDP increased 2.1 percent.

The full text of the release on BEA’s website can be found at: www.bea.gov/news/2020/gross-domestic-product-1st-quarter-2020-second-estimate-corporate-profits-1st-quarter

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