For more information, see the Upcoming Annual Update of the National Income and Product AccountsHow did BEA adjust March 2020 wages and salaries to account for the effects of COVID-19?How does the 2020 CARES Act affect BEA’s estimates of personal interest payments?How does BEA measure public education services during the closings of schools and college campuses in response to the COVID-19 pandemic?How does the Paycheck Protection Program of 2020 impact the national income and product accounts (NIPAs)? The New York Fed's GDP Nowcast, which was last updated before the ISM release, estimates a 35.5% Q2 drop, while CNBC's Rapid Update survey of leading economists has a median 38% decline.The one bright side of the even steeper slide is that it could point to a sharper recovery at least in the short term, said Ed Yardeni of Yardeni Research. BEA 20—19 We don't expect that real GDP will recover back to its Q4-2019 record high until late 2022," Yardeni said in his morning note Tuesday.The blow to the economy comes as most states have begun to relax stay-at-home restrictions Friday's nonfarm payrolls report is expected to show that another 8.3 million Americans lost their jobs in May, bringing the unemployment rate to 19.5%. Current Release. 6, 2020, 03:27 PM. Data is a real-time snapshot *Data is delayed at least 15 minutes. Oil and Gas Prices. That's on top of the 20.5 million payrolls drop in April and a 14.7% jobless level.Yardeni estimates that it could take until October 2022 before the Coincident Economic Indicators index, which tracks current economic activity metrics, to return to its February high. "The current slide in activity has been unique in that it has been led by services sector, rather than manufacturing or construction as is common in recessions. Real gross domestic product (GDP) decreased 5.0 percent in the first quarter of 2020, according to the “third” estimate released by the Bureau of Economic Analysis. Jul. GDP Annual Growth Rate in the United States averaged 3.18 percent from 1948 until 2020, reaching an all time high of 13.40 percent in the fourth quarter of 1950 and a record low of -3.90 percent in the second quarter of 2009.

EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, Wednesday, April 29, 2020 GDP Growth Rate in the United States averaged 3.06 percent from 1947 until 2020, reaching an all time high of 16.70 percent in the first quarter of 1950 and a record low of -32.90 percent in the second quarter of 2020. Economic activity in the second quarter has been cut by more than half, according to a tracker employed by the Atlanta Federal Reserve.Extrapolating from that data, the Atlanta Fed anticipates personal consumption expenditures, which make up 68% of the nation's gross domestic product, to fall 58.1% in the April-to-June period. We want to hear from you.Sign up for free newsletters and get more CNBC delivered to your inboxGet this delivered to your inbox, and more info about our products and services. The decline is the same as in the “second” estimate released in May. This led to rapid changes in demand, as businesses and schools switched to remote work or canceled operations, and consumers canceled, restricted, or redirected their spending. Current release: June 25, 2020. "Beyond that, we agree that it could be a swoosh with low single-digit growth rates. Lisa Mataloni 

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