BEA Releases Advance Estimate of First Quarter GDP (Apr. 2018)
The Bureau of Economic Analysis released its “advance” estimate of first quarter 2018 Gross Domestic Product. The advance estimate is based on data that is subject to further revision compared to the “second” estimate. The advance estimate shows that real GDP increased at an annual rate of 2.3 percent during the first quarter of 2018.
The increase in real GDP in the first quarter reflected increases in personal consumption expenditures, nonresidential fixed investment, exports, private inventory investment, federal government spending, and state and local government spending. Imports, which is subtracted in the GDP calculation, increased.
The full BEA press release on the second estimate of fourth quarter GDP can be accessed in the link below:
The next release—for the second estimate of first quarter GDP 2018 will be released on May 30, 2018.