Economy
June 24, 2015
Gross Domestic Product for Q1 2015, Third Estimate
Written by Peter Wright
The Bureau of Economic Analysis (BEA) released the third estimate of Q1 2015 Annual Revision of the National Income and Product Accounts on Wednesday.
The annualized growth rate in the third estimate was -0.17 percent down from Q4 2014 which came in at 2.2 percent. GDP is measured and reported in chained 2009 dollars and in Q1 was estimated to be $16.288 trillion. The calculation is slightly misleading because it takes the Q over Q growth and multiplies by 4 to get an annualized rate. This makes the high quarters higher and the low quarters lower. Figure 1 clearly shows this effect.
