Increase in real GDP for Q1

30 May '08

3 min read

Real personal consumption expenditures increased 1.0 percent in the first quarter, compared with an increase of 2.3 percent in the fourth. Real nonresidential fixed investment decreased 0.2 percent, in contrast to an increase of 6.0 percent. Nonresidential structures increased 1.1 percent, compared with an increase of 12.4 percent. Equipment and software decreased 0.9 percent, in contrast to an increase of 3.1 percent. Real residential fixed investment decreased 25.5 percent, compared with a decrease of 25.2 percent.

Real exports of goods and services increased 2.8 percent in the first quarter, compared with an increase of 6.5 percent in the fourth. Real imports of goods and services decreased 2.6 percent, compared with a decrease of 1.4 percent.

Real federal government consumption expenditures and gross investment increased 4.4 percent in the first quarter, compared with an increase of 0.5 percent in the fourth. National defense increased 5.6 percent, in contrast to a decrease of 0.5 percent. Nondefense increased 1.8 percent, compared with an increase of 2.8 percent. Real state and local government consumption expenditures and gross investment increased 0.6 percent, compared with an increase of 2.8 percent.

The real change in private inventories added 0.21 percentage point to the first-quarter change in real GDP, after subtracting 1.79 percentage points from the fourth-quarter change. Private businesses decreased inventories $14.4 billion in the first quarter, following a decrease of $18.3 billion in the fourth quarter and an increase of $30.6 billion in the third.

Click here to view more:

Bureau of Economic Analysis

More Bureau of Economic Analysis News... More Textiles News - United States Of America...