US GDP increased at an annual rate of 1.3% in Q1, 2024

US Bureau of Economic Analysis
May 30, 2024
Category: Finance & Economics
Region: United States

Real gross domestic product (GDP) increased at an annual rate of 1.3% in the first quarter of 2024, according to the “second” estimate released by the Bureau of Economic Analysis. In the fourth quarter of 2023, real GDP increased 3.4%. …The increase in real GDP primarily reflected increases in consumer spending, residential fixed investment, nonresidential fixed investment, and state and local government spending that were partly offset by a decrease in private inventory investment. Imports, which are a subtraction in the calculation of GDP, increased.

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