This was most prevalent in first-quarter GDP data, before the government resolved the problem in 2018.
GDP in the first quarter of 2020 was revised down to show it contracting at a 5.3% annualized rate, instead of the previously reported 4.6% pace.
In the first quarter of 2021, GDP increased at a 5.2% rate rather than the previously published 6.3% pace, with consumer spending revised lower.
In 2022, GDP contracted at a 2.0% rate in the first quarter, revised down from the previously reported 1.6% pace.
The gap was less than 0.1% of GDP in 2022, revised from −0.6%.
Persons:
Dave Wasshausen, Lucia Mutikani, Andrea Ricci
Organizations:
Analysis, BEA, Gross, Federal Reserve, Thomson