GDP Increased to Rise of 1.2% for Q1, According to Second Estimate

Washington, DC, May 26, 2017-Real gross domestic product (GDP) increased at an annual rate of 1.2% 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%.

The GDP estimate released today is based on more complete source data than were available for the "advance" estimate issued last month.  In the advance estimate, the increase in real GDP was 0.7%.

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. These revisions were partly offset by a larger decrease in private inventory investment.