BEA Releases Advance Estimate of First Quarter GDP (Apr. 2017)
The Bureau of Economic Analysis released its “advance” estimate of first quarter 2017 Gross Domestic Product. The advance estimate is based on data that may be incomplete or subject to revision. The second estimate, released on May 26, 2017, will be based on more complete data.
The advance estimate shows that real GDP increased at an annual rate of 0.7 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 positive contributions from nonresidential fixed investment, exports, residential fixed investment, and personal consumption expenditures (PCE), that were offset by negative contributions from private inventory investment, state and local government spending, and federal government spending. Imports, which is subtracted in the GDP calculation, increased.
The full BEA press release on the advanced estimate of first quarter GDP can be accessed in the link below.
The next release—for the second estimate of first quarter GDP 2017 will be released on May 26, 2017.