by Calculated Risk on 5/26/2022 08:33:00 AM
The GDP estimate released today is based on more complete source data than were available for the “advance” estimate issued last month. In the advance estimate, the decrease in real GDP was 1.4 percent. The update primarily reflects downward revisions to private inventory investment and residential investment that were partly offset by an upward revision to consumer spending
Here is a Comparison of Second and Advance Estimates. PCE growth was revised up from 2.7% to 3.1%. Residential investment was revised down from 2.1% to 0.4%.