Posted May 26, 2017

Real GDP up by 1.2 percent in Q1

Real gross domestic product increased at an annual rate of 1.2 percent in the first quarter of 2017, according to the second estimate released by the Bureau of Economic Analysis.

In the fourth quarter, real GDP increased 2.1 percent.

With this second estimate for the first quarter, the general picture of economic growth remains the same; increases in nonresidential fixed investment and in personal consumption expenditures (PCE) were larger and the decrease in state and local government spending was smaller than previously estimated.