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., April and May 2020). Quantities and prices. For details on the calculation of quantity and price indexes, see Chapter 4: Estimating Methods in the NIPA Handbook. Excluding food and energy prices, the PCE price index increased 1.6 percent, 0.1 percentage point lower than previously published. This convention is used for BEA's featured, seasonally adjusted measures to facilitate comparisons with related and historical data. Singapore’s GDP Contracted by 12.6 Per Cent in the Second Quarter of 2020 14 July 2020. For fourth quarter estimates, these data are not available until the third estimate. India's economy contracted at the quickest pace on record in the second quarter, as lockdowns that were imposed to help control the spread of … “GDP at constant (2011-12) prices in Q2 of 2020 … The For information on updates to GDP, see the "Additional Information" section that follows. Real GDI is now estimated to have decreased 2.5 percent in the first quarter (table 1); in the previously published estimates, first-quarter GDI was estimated to have decreased 4.4 percent. Quantity and price indexes are calculated using a Fisher-chained weighted formula that incorporates weights from two adjacent periods (quarters for quarterly data and annuals for annual data). Personal saving was $4.69 trillion in the second quarter, compared with $1.59 trillion in the first quarter. The "second" estimate for the second quarter, based on more complete data, will be released on August 27, 2020. Excluding food and energy prices, the PCE price index decreased 1.1 percent, in contrast to an increase of 1.6 percent. Among G20 economies, China recorded the highest annual growth (3.2%), while India recorded the largest annual fall (minus 23.5%). OECD Chart: Quarterly GDP, Total, Percentage change, previous period, Q1 2020 or latest available, Source: OECD Quarterly National Accounts Database. Organisation for Economic, International trade and balance of payments statistics, Prices and purchasing power parities (PPP), OECD Quarterly National Accounts Database, More information on quarterly national accounts at. Gross domestic product shrank 9.5% in the second quarter from the first, a drop that equals an annualized pace of 32.9%, the Commerce Department’s initial estimate showed on Thursday. However, in some cases, there will inevitably be an impact on quality and, as such, the statistics included in this press release may be subject to larger, and more frequent, than normal revisions. In tables that display chained-dollar values, a "residual" line shows the difference between the sum of detailed chained-dollar series and its corresponding aggregate. France, Italy and Spain, which were hit harder by the … For details, see the FAQ "Why does BEA publish estimates at annual rates?" For the first quarter of 2020, real GDP is estimated to have decreased 5.0 percent (table 1), the same decrease as previously published. The country coverage was not affected by the COVID-19 crisis. The advance gross domestic product (GDP) report showed that in the second quarter of 2020, U.S. GDP declined at an annualized rate of 32.9%.. A table showing the major current‑dollar revisions and their sources for each component of GDP, national income, and personal income is also provided. 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