Posted May 30, 2018

GDP increased by 2.2 percent in Q1

Real gross domestic product increased at an annual rate of 2.2 percent in the first quarter of 2018, according to the most recent estimate released by the Bureau of Economic Analysis.

In the fourth quarter of 2017, real GDP increased 2.9 percent.

Real gross domestic income increased 2.8 percent in the first quarter, compared with an increaseof 1.0 percent in the fourth quarter. The average of real GDP and real GDI, a supplemental measure of U.S. economic activity that equally weights GDP and GDI, increased 2.5 percent in the first quarter, compared with an increase of 2.0 percent in the fourth quarter.

The increase in real GDP in the first quarter reflected positive contributions from nonresidential fixed investment, personal consumption expenditures (PCE), exports, private inventory investment, federal government spending, and state and local government spending that were partly offset by a negative contribution from residential fixed investment.