Thursday, April 29, 2021

BEA: Real GDP increased at 6.4% Annualized Rate in Q1

by Calculated Risk on 4/29/2021 08:33:00 AM

From the BEA: Gross Domestic Product, First Quarter 2021 (Advance Estimate)

Real gross domestic product (GDP) increased at an annual rate of 6.4 percent in the first quarter of 2021, according to the "advance" estimate released by the Bureau of Economic Analysis. In the fourth quarter of 2020, real GDP increased 4.3 percent. ...

The increase in real GDP in the first quarter reflected increases in personal consumption expenditures (PCE), nonresidential fixed investment, federal government spending, residential fixed investment, and state and local government spending that were partly offset by decreases in private inventory investment and exports. Imports, which are a subtraction in the calculation of GDP, increased.
emphasis added
The advance Q1 GDP report, with 6.4% annualized growth, was slightly below expectations.

I'll have more later ...