WHAT IS THE "PRELIMINARY GDP"?

WHAT IS THE "PRELIMINARY GDP"?

The Preliminary Gross Domestic Product (GDP) is a survey that is being used to measure the annualized change in the value of all goods and services produced by the relevant economy. It is defined as the total market value of all goods and services produced within the U.S economy in one quarter, in this case the 2nd quarter. The survey is released on a quarterly basis and it measures the differences compared to the same quarter in the previous year. There are three versions of the GDP released a month apart - "Advance", "Preliminary" and "Final". The "Advance" estimates are based on source data that is incomplete or subject to further revision by the source agency, while the adjusted figures are delivered through the 'Preliminary' version.
Traders follow this survey very closely because it is considered to be the broadest measurement of economic activity and a primary gauge of an economy's health.