| Real gross domestic product -- the output of goods and services produced by labor and property
located in the United States -- increased at an annual rate of 0.1 percent in the first quarter (that is, from
the fourth quarter of 2013 to the first quarter of 2014). In the fourth quarter, real GDP increased 2.6 percent.
This first-quarter advance estimate is based on source data that are incomplete or subject to further revision. The second estimate for the first quarter, based on more complete data, will be released on May 29, 2014. The increase in real GDP in the first quarter primarily reflected a positive contribution from personal consumption expenditures (PCE) that was partly offset by negative contributions from exports, private inventory investment, nonresidential fixed investment, residential fixed investment, and state and local government spending. Imports, which are a subtraction in the calculation of GDP, decreased. See the complete report at this link: USDOC-BEA |
30 April 2014
• U.S. Gross Domestic Product - Q1 2014
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