“Real gross domestic product (GDP) increased at an annual rate of 2.0 percent in the first quarter of 2018,” the Bureau of Economic Analysis reported in its third estimate.
Key takeaways from the official press release
- In the fourth quarter, real GDP increased 2.9 percent.
- In the second estimate, the increase in real GDP was 2.2 percent..
- With this third estimate for the first quarter, the general picture of economic growth remains the same; private inventory investment and personal consumption expenditures (PCE) were revised down.
- Real gross domestic income (GDI) increased 3.6 percent in the first quarter, compared with an increase of 1.0 percent in the fourth quarter.
- The increase in real GDP in the first quarter reflected positive contributions from nonresidential fixed investment, PCE, exports, federal government spending, and state and local government spending that were partly offset by negative contributions from residential fixed investment and private inventory investment.
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