BEA Releases Second Estimate of First Quarter GDP (May 2017)
The Bureau of Economic Analysis released its “second” estimate of first quarter 2017 Gross Domestic Product. This GDP estimate is based on more complete source data than were available for the “advance” estimate in the last month.
The second estimate shows that real GDP increased at an annual rate of 1.2 percent during the first quarter of 2017. In the fourth quarter of 2016, real GDP increased 2.1 percent (revised).
The increase in real GDP in the first quarter reflected increases in nonresidential fixed investment and personal consumption expenditures (PCE), that were offset by a larger decrease in private inventory investments. The decrease in state and local government spending was smaller than previously estimated.
The full BEA press release on the second estimate of first quarter GDP can be accessed in the link below:
The next release—for the third estimate of first quarter GDP 2017 will be released on June 29, 2017.