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Economic agencies revise previously published data as better survey responses, tax records, and benchmarks become available. GDP, payrolls, and unemployment all change after initial publication. Some series like the fed funds rate and treasury yields are never revised.

How GDP revisions work

The Bureau of Economic Analysis (BEA) publishes GDP on a schedule:
1

Advance estimate (~30 days)

First look at the quarter. Based on incomplete survey data. This is the number that moves markets.
2

Second estimate (~60 days)

More survey responses incorporated. Typically moves the number by a few billion.
3

Third estimate (~90 days)

Most complete quarterly data. Usually close to the second estimate.
4

Annual revisions (every July)

Incorporates tax data and census benchmarks. Can move numbers by hundreds of billions. Revises the past 3+ years.

Querying revisions

Pass a specific observation date to see every published value:
Results are ordered by publication date ascending:

Which series get revised?

Revisions + point-in-time

Revisions tell you how a data point changed. Point-in-time queries tell you what was known when. Use both: as_of for backtesting, revisions for understanding how much a number moved.
Last modified on March 29, 2026