The Department of Commerce indicated in a report that the GDP estimate released today is based "on more complete source data than were available for the "advance" estimate issued last month." It noted that in the
advance estimate, the increase in real GDP was 2.1 percent, where the revision "primarily reflected downward revisions to state and local government spending, exports, private inventory investment, and residential investment that were partly offset by an upward revision to personal consumption expenditures (PCE)." The report noted that the percent change in real GDP in the second quarter was revised down 0.1 percentage point from the
advance estimate." For his part, President Donald Trump tweeted "the Economy is doing GREAT, with tremendous upside potential!
Finally, this month's "GDP and the Economy" article details the
advance estimate of GDP for the first quarter of 2019.
A day earlier, the Central Statistics Office (CSO) lowered the FY 19 GDP growth in second
advance estimate of national income to 7 per cent from 7.2 per cent in the first
advance estimate.
The Central Statistics Organisation on Thursday said nominal GDP stood at Rs 167,73,145 crore (up 10% on-year) as against the second
advance estimate of Rs 167,51,688 crore (9.8%).The Centre's total expenditure was around Rs 21.43 lakh crore in FY18 or 96.6% of the RE.
This is an
advance estimate and
advance estimates are subject to revisions - usually two-three revisions.
Gross domestic product (GDP) rose an annualized 1.9 percent in the third quarter from the prior quarter, the government said Wednesday, much better than its
advance estimate issued in October of 0.1 percent growth.
According to dpa, the previously quarter-on-quarter growth was 0.5 per cent, it said in an
advance estimate.
When it comes to the first quarter, data released today proved shocking, as the final reading for GDP growth came in at -2.9 percent (annualised quarterly based), down from a preliminary -1 percent and
advance estimate of +0.1 percent.
This is considerably above the
advance estimate of 2.8 percent that was released in November, and it's the fastest pace since the first quarter of 2012.
Investors are also waiting for the release of the
advance estimate of US third quarter economic growth later Thursday and October jobs figures on Friday.