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Wednesday, May 30, 2018 Contact: Jeannine Aversa, (301) 278‐9003 GDP INCREASES IN FIRST QUARTER “Second” estimate of GDP Real gross domestic product (GDP) increased 2.2 percent in the first quarter of 2018, according to the “second” estimate released by the Bureau of Economic Analysis. The growth rate was 0.1 percentage point lower than the “advance” estimate released in April. In the fourth quarter of 2017, real GDP rose 2.9 percent. Quarter‐to‐Quarter Growth in Real GDP 6 4 Percent First quarter GDP highlights The increase in real GDP reflected increases in business investment, consumer spending, exports, government spending, and inventory investment. Imports, which are a subtraction in the calculation of GDP, increased in the first quarter of 2018. 2 Revisions 0 The downward revision to the second Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 estimate of GDP growth reflected downward 2014 2015 2016 Real GDP growth is measured at seasonally adjusted annual rates. revisions to inventory investment, housing investment, and exports. These were partly offset by an upward revision to business investment. Q2 Q3 Q4 Q1 2017 2018 Corporate Profits Corporate profits decreased 0.6 percent at a quarterly rate in the first quarter of 2018 after decreasing 0.1 percent in the fourth quarter of 2017. Quarter‐to‐Quarter Growth in Corporate Profits 10 Profits of domestic nonfinancial corporations decreased 1.5 percent after increasing 1.5 percent. Profits of domestic financial corporations increased 0.5 percent after decreasing 3.0 percent. Profits from the rest of the world increased 1.0 percent after decreasing 1.3 percent. 8 6 4 Percent 2 0 ‐2 ‐4 ‐6 ‐8 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2014 2015 2016 2017 2018 Corporate profits growth is measured as the percent change from the previous quarter. Over the last 4 quarters, corporate profits increased 4.3 percent. BEA data—including GDP, personal income, the balance of payments, foreign direct investment, the input-output accounts, and regional economic data—are available at www.bea.gov. E-mail alerts are also available. The “third” estimate of GDP for the first quarter of 2018 will be released on June 28, 2018.
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