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April 28, 2017US GDP 2017 Q1 (ADVANCE ESTIMATE)
In the first quarter of 2017, the US economy grew at an annualized rate of 0.7 per cent, according to the advance estimate from the Bureau of Economic Analysis. Growth was slower than the previous quarter, when real GDP expanded 2.1 per cent. Real expenditure grew for nonresidential fixed investment, exports, residential fixed investment and personal consumption expenditures. Negative contributions to growth came from decreases in inventory investment and government and an increase in imports. The slowdown compared to Q4, was due to slower growth in personal consumption expenditures (+0.3%) which grew at its slowest pace since 2009 as durable goods consumption declined.
Source: US Bureau of Economic Analysis
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