Posted May 30, 2019

GDP increased at 3.1 percent in Q1

Real gross domestic product increased at an annual rate of 3.1 percent in the first quarter of 2019, according to the "second" estimate released by the Bureau of Economic Analysis.

In the fourth quarter, real GDP increased 2.2 percent.

The acceleration in real GDP reflected an upturn in state and local government spending, accelerations in private inventory investment and in exports, and a smaller decrease in residential investment.