# How does FRED Quarterly Real Gross Domestic Product and USA GDP growth rate match?

https://fred.stlouisfed.org/series/ND000334Q

From this not seasonally adjusted data, Q2 GDP merely dropped 1-4305/4674=8% QoQ? What makes this number to be so different from the 32.9% decline they published today supposedly calculated form the seasonally adjusted GDP data?

https://fred.stlouisfed.org/series/GDPC1

1. As Fred dataset clearly states the second series in quarterly series at an annual rate where the $$32.9\%$$ change is calculated just as the difference from preceding quarter. The annual rate change from preceding quarter is calculated differently than quarter-on-quarter rate. You can review the formulas fred uses here. Most of the discrepancy between the numbers can be attributed to that.