Gross domestic product (GDP) in the U.S. increased at an annual rate of 2.0% in the second quarter of 2019, according to the most recent estimate released by the Department of Commerce. In the first quarter, GDP increased 3.1%. This GDP estimate is based on more complete source data than were available for the initial estimate issued last month. In that estimate, the increase in GDP was 2.1%. The revision primarily reflected downward revisions to state and local government spending, exports, private inventory investment, and residential investment that were partly offset by an upward revision to personal consumption expenditures.