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May 26, 2017US GDP 2017 Q1 (SECOND ESTIMATE) 
In the first quarter of 2017, the US economy grew at an annualized rate of 1.2 per cent, according to the advance estimate from the Bureau of Economic Analysis (revised upward from the preliminary estimate of 0.7 per cent). 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. Net exports declined by 0.8 per cent on the quarter, compared to 15.9 per cent growth in 4Q2016.
US Corporate profits declined by 1.9 per cent in the first quarter of 2017, with financial industries showing a 5.1 per cent drop in corporate profits and nonfinancial industries dipping 1.4 per cent.
Source: US Bureau of Economic Analysis