PRESS RELEASE, August 27, 2010 -- Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 1.6 percent in the second quarter of 2010, (that is, from the first quarter to the second quarter), according to the "second" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 3.7 percent.
(Also on State of the USA: Measuring Economic Well-being: GDP vs. Median Income)
The Bureau emphasized that revised estimates were based on more complete source data than were available for the "advance" estimate issued last month. In the advance estimate, the increase in real GDP was 2.4 percent. The third or "final" estimate for the second quarter, based on more complete data, will be released on September 30, 2010.
Complete details are available on the BEA's website.