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April and May 2020). US GDP Estimates 2nd Quarter 2020 . Indian economy is estimated to contract 7.7 per cent in 2020-21 compared to 4.2 per cent growth in the previous fiscal, mainly on account of the impact of the COVID-19 pandemic. Embed code. GDP and the Economy Second Estimates for the Second Quarter of 2020 Real gross domestic product (GDP) decreased at an annual rate of 31.7 percent in the second quarter of 2020, according to the second estimates of the National Income and Product Accounts (NIPAs) (chart 1 and table 1). In the first quarter of 2020, GDP had decreased by 3.6% in the euro area and by 3.2% in the EU. 1 The advance GDP estimates for the fourth quarter of 2020 are computed largely from data in the first two months of the quarter (i.e., October and November 2020). 1 The advance GDP estimates for the second quarter of 2020 are computed largely from data in the first two months of the quarter (i.e. GDP growth in the euro area and EU: In the second quarter of 2020, still marked by COVID-19 containment measures in most Member States, seasonally adjusted GDP decreased by 11.8% in the euro area and by 11.4% in the EU compared with the previous quarter, according to an estimate published by Eurostat, the statistical office of the European Union. GDP main aggregates and employment estimates for the third quarter of 2020 GDP up by 12.5% and employment up by 1.0% in the euro area In the EU, GDP up by 11.5% and employment up by 0.9% GDP growth in the euro area and EU In the third quarter of 2020, seasonally adjusted GDP increased by 12.5% in the euro area and by 11.5% in the EU compared with the previous quarter, according to an … That is a sharp rise from 5.7% in the first quarter and 6.5% in the second quarter of the year. Figure 1: GDP saw its second consecutive quarterly decline in Quarter 2 2020. 10/02/2020 | 08:45am EST *: *: * Real gross domestic product (GDP) decreased in all 50 states and the District of Columbia in the second quarter of 2020, as real GDP for the nation decreased at an annual rate of 31.4 percent, according to statistics released today by the U.S. Bureau of Economic Analysis. In the initial summary the BEA reported that Real gross domestic product (GDP) decreased at an annual rate of 32.9 percent in the second quarter of 2020, according to the BEA’s initial estimate. What the Second Quarter GDP Estimates Reveal Prabhat Patnaik December 7, 2020 It is ironic that government spokespersons should exhibit so much euphoria over the second quarter (July-September) Gross Domestic Product estimate, which shows a drop “only” of 7.5 per cent compared to second quarter … GDP down by 11.8 % in the euro area and by 11.4 % in the EU-27. 31.07.2020 Code: 050055-20 , , , According to a preliminary estimate, the gross domestic product decreased in the Q2 2020 by 8.4%, quarter-on-quarter, and by 10.7%, year-on-year. While the second quarter GDP was less than that of the previous year by 7.5 per cent, private consumption expenditure in real terms was less by even more, 11.32 per cent. Date Major Releases GDP* Date Major Releases GDP* Date Major Releases GDP* 30-Oct Initial nowcast 2.2 25-Nov GDP, Pers Inc/PCE, Adv dur manuf, Adv Econ Indicators, New-home sales 11.0 22-Dec GDP, Existing-home sales 11.2 2-Nov ISM Manuf Index, Constr spending … They are intended as an early indication of the GDP growth in the quarter, and may be revised when more comprehensive data become available. National accounts, second quarter 2020 GDP indicator: Sharp contraction in second quarter 2020 . According to the advance estimates, GDP decreased by 9.0% in real terms in the second quarter of 2020 from a year earlier, compared with the decrease of 9.1% in the first quarter of 2020. For the same period, GDP in Bulgaria creased by 10.0% de (Table 1 of the Annex). Coronavirus (COVID-19) Impact on the Second-Quarter 2020 GDP by State Estimates; The decline in second quarter GDP reflected the response to … “The NBS published on Monday August 24, 2020, the 2nd Quarter (Q2) 2020 GDP estimates, which measure economic growth. Embed this interactive Copy. GDP decreased by 8.3 percent in the second quarter of 2020, seasonally adjusted and compared with the first quarter of 2020. That's better than … Sweden’s GDP declined by 8.6 percent in the second quarter of 2020, seasonally adjusted and compared with the first quarter. Following a contraction in the first and second quarters of 2020, French GDP is expected to pick up in the second half and continue to improve in 2021 and 2022. Real gross domestic product (GDP) decreased at an annual rate of 32.9 percent in the second quarter of 2020 (table 1), according to the “advance” estimate released by the Bureau of Economic Analysis.In the first quarter, real GDP decreased 5.0 percent. They are intended as an early indication of the GDP growth in the quarter and are subject to revision when more comprehensive data become available. Evolution of Atlanta Fed GDPNow real GDP growth estimates for 2020: Q4 *Note: Annualized quarterly growth rate of real GDP. The bank had earlier predicted a 25% hit to second-quarter GDP. According to a preliminary estimate, the gross domestic product decreased in the Q2 2020 by 8.4%, quarter-on-quarter, and by 10.7%, year-on-year. Updates for the First Quarter of 2020. “The National Bureau of Statistics (NBS) published on Monday August 24, 2020, the 2nd Quarter (Q2) 2020 Gross Domestic Product (GDP) estimates, which measures economic growth. We kindly inform you that we have decided to publish the above estimates along with the GDP estimates for the third quarter of 2020 on 15.12.2020 as it will take a considerable amount of time for that work and to ensure the accuracy of the estimates that will be published. GDP decreased by 11.8 % in the euro area (EA-19) and 11.4 % in the EU-27 during the second quarter of 2020, compared with the previous quarter, according to an estimate (see Data sources below) published by Eurostat.These were the sharpest declines observed since time series started in 1995. By S. Jack Heffernan Ph.D on August 3, 2020. This means that the share of private consumption expenditure in GDP has declined between the second quarters of 2019-20 and 2020-21. For the first quarter of 2020, real GDP is estimated to have decreased 5.0 percent (table 1), the same decrease as previously published. Previously published estimates, which are superseded by today’s release, are found in BEA’s archives. Notes: Q1 refers to Quarter 1 (Jan to Mar), Q2 refers to Quarter 2 (Apr to June), Q3 refers to Quarter 3 (July to Sept), Q4 refers to Quarter 4 (Oct to Dec). Quarterly GDP growth. Latest News. Statistical news from Statistics Sweden 2020-08-05 9.30 . Unprecedented fall in OECD GDP by 9.8% in Q2 2020 . UK GDP growth, Quarter 1 (Jan to Mar) 2005 until Quarter 2 (Apr to June) 2020. In fact the data show that it was 56.5 per cent in Q2 2019-20, and fell to 54.2 per … There was a broad downturn, but it was particularly affected by a drop in exports and households' consumption. Download the data. National Accounts, quarterly and annual estimates; National accounts, second quarter 2020 Listen. Real gross domestic product (GDP) decreased at an annual rate of 32.9 percent in the second quarter of 2020 (table 1), according to the “advance” estimate released by the Bureau of Economic Analysis. Compared to the previous quarter, in the secondquarter of 2020 lowest economic decline was … Gross Domestic Product by State, 2nd Quarter 2020. Video Story . 1 In the first quarter of 2020, real GDP decreased 5.0 percent. 1 With the second estimate, real GDP growth for the second quarter was revised up by 1.2 percentage points. 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