The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Thursday, May 30, 2019 Contact: Jeannine Aversa, (301) 278-9003 GDP INCREASES IN FIRST QUARTER “Second” estimate of GDP Real gross domestic product (GDP) increased 3.1 percent in the first quarter of 2019, 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 2018, real GDP rose 2.2 percent. GDP highlights The increase in real GDP reflected increases in consumer spending, inventory investment, exports, state and local government spending, and business investment. Imports, which are a subtraction in the calculation of GDP, decreased. The increase in consumer spending reflected an increase in services (led by health care) that was partly offset by a decrease in goods, specifically motor vehicles and parts. The increase in inventory investment reflected an increase in manufacturing inventories, notably in the nondurable goods industries. Updates to GDP The revision to GDP growth reflected downward revisions to business investment and inventory investment and an upward revision to imports, which are a subtraction in the calculation of GDP. These revisions were partly offset by upward revisions to exports and consumer spending. Corporate Profits Corporate profits decreased 2.8 percent at a quarterly rate in the first quarter of 2019 after decreasing 0.4 percent in the fourth quarter of 2018. • • Quarter-to-Quarter Growth in Corporate Profits 4 2 Percent • 6 0 Profits of domestic nonfinancial -2 corporations decreased 4.4 percent after increasing 1.0 percent. -4 Profits of domestic financial -6 corporations increased 1.8 percent Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2015 2016 2017 2018 2019 after decreasing 5.6 percent. Corporate profits growth is measured as the percent change from the previous quarter. Profits from the rest of the world decreased 2.2. percent after increasing 0.4 percent. Over the last 4 quarters, corporate profits increased 3.1 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 2019 will be released on June 27, 2019.
@FedFRASER