04.28.2016
The Bureau of Economic Analysis has released its advance estimate of first quarter 2016 Gross Domestic Product. The advance estimate is based on data that may be incomplete or subject to revision. The second estimate released in May will be based on more complete data.
The advance estimate shows GDP increasing at an annual rate of 0.5% during the first quarter of 2016. This is a deceleration from the fourth quarter of 2015 which saw GDP increasing at a rate of 1.4%.
This deceleration reflects a decrease in nonresidential fixed investment personal consumption expenditures federal government spending private inventory investment and net exports (due to an increase in imports) and was offset by an increase in state and local government spending and residential fixed investment.
The full report is available via the link below:
