Q1 2018 GDP Revised Down Slightly
Washington, DC, May 30, 2018-Real gross domestic product (GDP) increased at an annual rate of 2.2% in the first quarter of 2018, according to the second estimate released by the Bureau of Economic Analysis.
In the fourth quarter of 2017, real GDP increased 2.9%.
This GDP estimate 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 2.3%.
With this second estimate for the first quarter, the general picture of economic growth remains the same; downward revisions to private inventory investment, residential fixed investment, and exports were partly offset by an upward revision to nonresidential fixed investment.