Statement from Under Secretary Rebecca Blank on the Second Estimate of Gross Domestic Product in the Second Quarter 2010
The U.S. Commerce Department’s Bureau of Economic Analysis today released the second estimate of gross domestic product (GDP) for the second quarter of 2010. Growth in real GDP was lowered to 1.6 percent at an annual rate from the advance estimate of 2.4 percent. Most private-sector analysts had expected a revision to 1.4 percent in the second quarter. The downward revision reflected a wider trade deficit and lower inventories than were originally reported.