The U.S. Bureau of Economic Analysis's advance estimate release of GDP in the second quarter of 2013 also included comprehensive revisions to historical GDP data. According to the BEA, major conceptual changes include capitalization of research and development, capitalization of entertainment, literary, and artistic originals, expanded capitalization of ownership transfer costs of residential housing, and accrual treatment of defined benefit pension plans. For more detail, see www.bea.gov/gdp-revisions.
Regarding the impact of the revisions, the current expansionary period (beginning in the second quarter of 2009) was revised up slightly, from 2.1 percent annual growth to 2.2 percent.
