The BEA released revisions to the last few years of GDP data… the results are not good. Looks like we lost about 0.3 percentage points compared to where we thought we were.
News Release: Gross Domestic Product
For 2001-2004, real GDP grew at an average annual rate of 2.8 percent, 0.3 percentage point less than in the previously published estimates. The average annual rate of growth of real GDP from 2001:IV to 2005:I is 3.3 percent, 0.2 percentage point less than in the previously published estimates. Revisions to year-to-year growth rates were small.
Revisions to 2002-2004 estimates
The percent change from the preceding year in real GDP was revised down for all 3 years: From 1.9 percent to 1.6 percent for 2002, from 3.0 percent to 2.7 percent for 2003, and from 4.4 percent to 4.2 percent for 2004.
Here are the revisions…
Click for large image…