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Real GDP increased 0.2 percentage point faster in the first quarter than earlier published.
Both PCE inflation and core PCE inflation in the first quarter were revised a tenth higher to 4.2% and 5.0%, respectively.
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U.S. GDP was revised higher for the first quarter of 2023 and back through 2009, the Bureau of Economic Analysis said Thursday after issuing a comprehensive revision going back to 1979. Real GDP increased 2.2% in the first quarter, 0.2 percentage point faster than earlier published. In the 2017-2022 period, it grew at an average annual rate of 2.2%, 0.1 percentage point higher, and for 2009-2019, the rate was 2.4%, revised 0.1pp higher. Real GDI at 2.3% over 2017-2022 was also 0.2 pp higher than previously published.
The BEA's third estimate of second-quarter growth was unchanged at 2.1%.
Both PCE inflation and core PCE inflation in the first quarter were revised a tenth higher to 4.2% and 5.0%, respectively.
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