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April 27, 2018US GDP 2018Q1 (ADVANCE ESTIMATE) 
The US economy grew at a seasonally adjusted annualized rate of 2.3 per cent in real terms, based on the advance estimate of real GDP from the Bureau of Economic Analysis. There were positive contributions from rising non-residential investment, personal consumer expenditures, exports, inventory investment and government spending at all levels. Rising imports offset some of these gains.
Although the US economy continues to grow, Q1 growth is slower than has been reported over the last three quarters. The deceleration in real GDP growth is attributable to slower growth in personal consumer expenditure, residential investment, exports and state/local government spending. These were mitigated by improvements in private inventory investment as well as decelerating imports.
US nominal GDP growth (including the impacts of rising prices) was 4.3 per cent in Q1, a full percentage point slower than the growth reported in 2017Q4. Overall price growth (GDP deflator) accelerated to 2.8 per cent in Q1, including a 2.7 per cent rise in the broad price index for personal consumer expenditures.
Note: the US Bureau of Economic Analysis notes that these advance estimates are based on incomplete or preliminary data sources and are subject to revision in subsequent estimates.
Source: US Bureau of Economic Analysis
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