Market Updates
U.S. First Quarter GDP Revised On Upwardly Revised Consumer and Government Spending
Brian Turner
25 May, 2023
New York City
U.S. GDP in the first quarter was revised higher to 1.3% in the first quarter, from the first estimate of 1.1%, the Bureau of Economic Analysis reported Thursday.
Despite the upward revision in the second estimate, economic growth in the first quarter is the weakest since the second quarter 2022.
The statistical agency will provide a third estimate of the economic growth in about three months, which will be the final estimate for the first quarter.
Consumer spending accelerated in the first quarter to 3.8% from the previous estimate of 3.7% and private inventory estimate subtracted 2.1 percentage points, less than 2.3 percentage point estimated in the first estimate.
Net external demand contributed positively to the latest GDP revision after exports rose at a faster pace than imports.
Nonresidential fixed investment was revised upward to 1.4% from 0.7% and public spending to 5.2% from 4.7% in the first estimate respectively.
However, residential fixed investment shrank at the faster pace of 5.4% from 4.2% in the first estimate.
Annual Returns
| Company | Ticker | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|
Earnings
| Company | Ticker | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|