The Bureau of Economic Analysis estimated on July 25, 2024 real GDP growth of 2.8 percent in the second quarter of 2024 compared with 1.4 percent in the first quarter.

The claim accurately describes the BEA’s advance estimate released on July 25, 2024. The agency reported that real GDP grew at a 2.8 percent annual rate in the second quarter, while first-quarter growth had been estimated at 1.4 percent. CNBC’s same-day report also identified the figure as the first of three estimates, confirming that the statement refers to a preliminary estimate rather than a final measurement.apps.bea.govapps.bea.govSCB, GDP and the Economy: Advance Estimates for the Second Quarter of 2024,...cnbc.comcnbc.comU.S. economy grew at a 2.8% pace in the second quarter, much more than expected

The figures were subsequently revised. BEA’s later third estimate put second-quarter growth at 3.0 percent and first-quarter growth at 1.6 percent. Those revisions affect the final reported historical data, but the claim is explicitly dated July 25, 2024 and says the bureau estimated the figures on that date. Judged in that time context, the claim is supported.bea.govbea.govGross Domestic Product (Third Estimate), Corporate Profits (Revised Estimate),... The other sources provide background or later economic reporting but do not undermine the contemporaneous claim. BEA’s first-quarter release documented that GDP estimates are revised over time, while the Atlanta Federal Reserve’s GDPNow page concerns forecasting methodology rather than the official July 25 estimate. Reuters’ 2025 article discusses later revisions and is not evidence that the July 2024 estimate was misstated when issued.atlantafed.orgatlantafed.orgGDPNow+3 more

The statement is therefore accurate as a description of the July 25, 2024 preliminary estimate. It should not be read as asserting that 2.8 percent and 1.4 percent remained the final revised figures.