Real gross domestic product (GDP) increased at an annual rate of 6.7 percent in the second quarter of 2021 (table 1), according to the “third” estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 6.3 percent.

The “third” estimate of GDP released today is based on more complete source data than were available for the “second” estimate issued last month. In the second estimate, the increase in real GDP was 6.6 percent. Upward revisions to personal consumption expenditures (PCE), exports, and private inventory investment were partly offset by an upward revision to imports, which are a subtraction in the calculation of GDP (see “Updates to GDP”).

The full text of the release on BEA’s website can be found at: https://www.bea.gov/news/2021/gross-domestic-product-third-estimate-gdp-industry-and-corporate-profits-revised-2nd

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