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HomeNewsEconomyAdvance Estimate for Q2 2019 GDP 2.1%, Beating Forecast

Advance Estimate for Q2 2019 GDP 2.1%, Beating Forecast

Gross domestic product (GDP) graphic concept. (Photo: AdobeStock)

Strong Consumer Spending Fuels Stronger-than-Expected Economic Growth in Q2

Gross domestic product (GDP) graphic concept. (Photo: AdobeStock)
Gross domestic product (GDP) graphic concept. (Photo: AdobeStock)

The Bureau of Economic Analysis (BEA) “advance” estimate for second quarter (Q2) 2019 gross domestic product (GDP) came in at a 2.1% seasonally-adjusted annual rate (SAAR). The stronger-than-anticipated reading for what was expected to be the weak quarter was fueled by stronger-than-anticipated consumer spending.

The second estimate for real GDP in Q1 2019 came in at 3.1% juxtaposed to 2.2% in Q4 2018. The percent change in real GDP in Q1 ranged from 5.2% in West Virginia to 1.2% in Hawaii.

PriorConsensus ForecastForecast RangeResult
Real GDP – Q/Q ∆ – SAAR3.1%1.9%1.6% to 2.2%2.1%
Real Consumer Spending – Q/Q ∆ – SAAR0.9%3.9%2.0% to 4.1%4.3%
GDP Price Index – Q/Q ∆ – SAAR0.9%2.0%1.5% to 2.2%2.4%
GDP Core Price Index – Q/Q ∆ – SAAR1.3%1.9%1.6% to 2.0%2.4%

Disposable personal income in Q2 2019 rose $193.4 billion, or 4.9%. That’s compared to an increase of $190.6 billion in Q1, or 4.8%. Real disposable personal income rose 2.5% juxtaposed to an increase of 4.4%.

Personal saving was $1.32 trillion in Q2 compared with $1.37 trillion in Q1. The personal saving rate — defined as personal saving as a percentage of disposable personal income — remained very high at 8.1% in Q2. That compares with 8.5% in Q1.

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PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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