GDP and the Economy - Second Estimates for the First Quarter of 2012

摘要

REAL GROSS domestic product (GDP) increased at an annual rate of 1.9 percent in the first quarter of 2012, according to the second estimates of the national income and product accounts (NIPAs) (chart 1 and table 1). The second estimate of real GDP growth was revised down 0.3 percentage point from the advance estimate, reflecting a downward revision to inventory investment, an upward revision to imports, and downward revisions to state and local government spending and to consumer spending that were partly offset by upward revisions to nonresidential fixed investment and to exports. In the fourth quarter of 2011, real GDP increased 3.0 percent.