Real gross domestic product – the output of goods and services produced by labor and property located in the U.S. – increased at an annual rate of 1.8 percent in the first quarter of 2011, (that is, from the fourth quarter to the first quarter), according to the "second" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 3.1 percent.
| We Deliver Distribution News to Your Inbox Sign up below to receive MDM Update, your free weekly distribution news update by email. |
The GDP estimates released are based on more complete source data than were available for the advance estimate issued last month. In the advance estimate, the increase in real GDP was also 1.8 percent.
The increase in real GDP in the first quarter primarily reflected positive contributions from personal consumption expenditures (PCE), private inventory investment, exports and nonresidential fixed investment that were partly offset by negative contributions from federal government spending and state and local government spending. Imports, which are a subtraction in the calculation of GDP, increased.
For more details, download the pdf below.
