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GDP Current Statistics
Current GDP Statistics Since Q4 2006

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(Credit: Bill Pugliano / Getty Images)

Nov 2 2009

Current GDP statistics are updated each month by the Bureau of Economic Analysis (BEA). It releases the GDP growth report, which describes the health of the economy in the last quarter. To understand the government's GDP reports as they are released, it is helpful to see how much they change with each release. Here is an archive of blog posts for each GDP release since Q4 2006. Note: On July 31, 2009, the BEA revised all GDP stats since 1929. The revised figures are given next to each quarter's title. Each original report is retained for comparison.

Each quarterly GDP report gets three releases:

Advance Report: Comes out one month after the quarter ends. This can often be wildly different from the final report, simply because all of the trade and business inventory data is not in yet.
Second Report: Comes out two months after the end of the quarter. This is usually pretty realistic. Formerly called the Preliminary Report.
Third Report: Comes out three months after the end of the quarter. Usually only tweaks the Second Report. Formerly known as Final Report.

Q3 2009 GDP:

Advance Report - The economy grew 3.5%, which means that technically the recession is over.

Q2 2009 GDP: -.7%

Advance Report - Government spending propped up the economy, which contracted 1%.
Second Report - In a very unusual move, the BEA did not adjust its estimate, which remained at -1%.
Third Report - The economy declined .7% in Q2 2009.

Q1 2009 GDP: -6.4%

Advance Report: - The economy fell 6.1%, partly due to leaner inventories.
Second Report: - The economy contracted 5.7% in Q1 2009, according to revised figures in the preliminary GDP report.
Final Report: - Growth was down 5.5%. The economy contracted more than 5% for two quarters in a row, the first time since the Great Depression.

Q4 2008 GDP: -5.4%

Advance Report: - Growth was down 3.8%, the worst since 1982.
Second Report: - GDP was revised down to -6.1%, the worst since the 1982 recession.
Final Report: - GDP was revised further down to -6.3%. This is the worst slowdown since Q1 1982, when GDP fell 6.4%.

Q3 2008 GDP: -2.7%

Advance Report - Growth was down .3%, the second time in a year.
Second Report - Growth slowed .5%, slightly more than the advance estimate of .3%.
Third Report: - Whether -.3% or -.5%, the economy declined in Q3.

Q2 2008 GDP: 1.5%

Advance Report: - The economy improved to a 1.9% growth rate. Revisions for 2007 were also released: 2007 GDP was 2% and Q4 GDP was -.2%.
Second Report - Growth for Q2 2008 was revised up to 3.3%, thanks to new data about increased exports and decreased imports.
Third Report - Released when the economy was in the grips of a credit crunch, the BEA's downward revision only fueled further pessimism.

Q1 2008 GDP: -.7%

Advance Report: - Why slow growth at .6%, though painful, meant the economy (could have) avoided a recession.
Second Report - Growth ws revised up to .9%. Why it still felt like a recession, even though it technically wasn't.
Third Report - Growth was revised up to 1% thanks to exports.

2007 GDP: 2.1%

Q4 2007: 2.1%

Advance Report - Why the economy slumped to .6% and the risk of recession.
Second Report - New data confirmed growth was only .6%.
Third Report - No revisions. Growth still at .6%.
In April 2008, the BEA revised Q4 2007 GDP to -.2%, declaring the start of the current recession.

Q3 2007 GDP: 3.6%

Advance Report: - Why GDP was still so healthy at 3.9%, why it might have declined in Q4, and the annual outlook.
Second Report - Discusses the surprising jump in GDP growth to 4.9%, the factors behind the revision, and the outlook for Q4.
Third Report - Why the Final Report remained at a still astounding 4.9%.
In April 2008, the BEA revised Q3 2007 GDP to 4.8% (same as Q2 2007 revision).

Q2 2007 GDP: 3.2%

Advance Report: - Why it was unlikely that GDP could go from .6% in Q1 to 3.4% in Q2
Second Report - Why GDP was revised up to an astounding 4%.
Third Report - Why the Final Report was revised down slightly to 3.8%.
In April 2008, the BEA revised Q2 2007 GDP to 4.8%.

Q1 2007 GDP: 1.2%

Advance Report: - The significance of 1.2% GDP growth to you.
Deja Vu - Dow High, GDP Low - Why the stock market hit a new high when the underlying economy dropped to a new low. How this was like March 2000, the beginning of the last recession.
Second Report - Why GDP was revised down to .5.
Third Report - GDP was revised up .1 point, to .6, the lowest growth rate in four years.
In April 2008, the BEA revised Q1 2007 GDP to .1%.