GDP Rose 0.5% in Q1, According to BEA Advance Estimate

Washington, DC, April 28, 2016—Real gross domestic product—the value of the goods and services produced by the nation’s economy less the value of the goods and services used up in production, adjusted for price changes—increased at an annual rate of 0.5% in the first quarter of 2016, according to the advance estimate released by the Bureau of Economic Analysis.

In the fourth quarter, real GDP increased 1.4%.

The Bureau emphasized that the first-quarter advance estimate released today is based on source data that are incomplete or subject to further revision by the source agency. The "second" estimate for the first quarter, based on more complete data, will be released on May 27.