Real US GDP Increased 2.2% Annual Rate in Q1

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US GDP increased at a 2.2% annual rate in the first quarter of 2012. Nominal GDP increased $142.4 billion and Real GDP increased $73.4 billion. Personal consumption expenditures increased $68.1 billion, private domestic investment increased $27.3 billion, and government expenditures rose $20.4 billion. Mitigating these rises were a trade deficit increase of $37.3 billion and a continued slow of government investment which has slowed or decreased across all its forms–even defense investment has plateaued.

For more information see our GDP Report.

–from the Bureau of Economic Analysis, the St. Louis Federal Reserve, and CalculatedRisk

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