For the first quarter of 2020, real GDP is estimated to have decreased 5.0 percent (table 1), the same decrease as previously published. GDP and the Economy Advance Estimates for the Second Quarter of 2020 Real gross domestic product (GDP) decreased at an annual rate of 32.9 percent in the second quarter of 2020, according to the advance estimates of the National Income and Product Accounts (NIPAs) (chart 1 and table 1). GDP decreased by 8.3 percent in the second quarter of 2020, seasonally adjusted and compared with the first quarter of 2020. Download the data. These preliminary GDP flash estimates are based on data sources that are incomplete and subject to further revisions under the COVID-19 containment measures. Gross Domestic Product, 2nd Quarter 2020 (Advance Estimate) and Annual Update. 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. 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. While the bounce in GDP estimates is evident, there is a huge catch-up that the GDP growth will have to do in the next financial year! UK GDP growth, Quarter 1 (Jan to Mar) 2005 until Quarter 2 (Apr to June) 2020. SECOND QUARTER OF 2020 (PRELIMINARY ESTIMATES) Gross Domestic Product (GDP) in the quarter of second 2020 declined by 11.4% in EU compared to the previous quarter by seasonally adjusted data. Video Story . Sweden’s GDP declined by 8.6 percent in the second quarter of 2020, seasonally adjusted and compared with the first quarter. That is a sharp rise from 5.7% in the first quarter and 6.5% in the second quarter of the year. 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. Unprecedented fall in OECD GDP by 9.8% in Q2 2020 . Coronavirus (COVID-19) Impact on the Second-Quarter 2020 GDP by State Estimates; The decline in second quarter GDP reflected the response to … GDP growth in the euro area and EU: In the second quarter 2020, still marked by COVID-19 containment measures in most Member States, seasonally adjusted GDP decreased by 12.1% in the euro area and by 11.7% in the EU compared with the previous quarter, according to a flash estimate published by Eurostat, the statistical office of the European Union. 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. 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. Compared to the previous quarter, in the secondquarter of 2020 lowest economic decline was … In fact the data show that it was 56.5 per cent in Q2 2019-20, and fell to 54.2 per … 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. National accounts, second quarter 2020 GDP indicator: Sharp contraction in second quarter 2020 . The decline in GDP is the largest ever since the start of the time series in 1980. They are intended as an early indication of the GDP growth in the quarter, and may be revised 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. Latest News. 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. 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. As per the first advanced estimates of the national income released by the National Statistical Office (NSO) on Thursday, there was contraction in almost all sectors with the exception of agriculture. 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. 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. 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 this interactive Copy. 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). Embed code. 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