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April 26, 2019US GDP 2019 Q1 (ADVANCE ESTIMATE) 
The US economy grew at 3.2 per cent (seasonally adjusted annualized rate, chained 2012 dollars) in Q1 2019, according to the advance estimate by the US BEA. Growth in the fourth quarter was 2.2 per cent. Since Q1 2018, the US real GDP has grown by 3.2 per cent.
Growth in Q1 2019 reflected positive contributions from increases in personal consumption, private inventory investment, exports, state and local government spending, non-residential fixed investment and lower imports. Residential investment and Federal government nondefense spending decreased.
Personal consumption expenditure growth slowed with a increase of 1.2 per cent compared to averaging 3.3 per cent over the previous three quarters. Non-residential investment growth was 2.7 per cent driven by continued increases in intellectual property products while equipment spending slowed to 0.2 per cent after eight quarters of solid growth. Non-residential structure spending was down for the third consecutive quarters. Residential investment contracted for the fifth consecutive quarters with a 2.8 per cent decline. Exports rose 3.7 per cent with gains in goods (+4.7%) and services (+1.8%). Imports declined 3.7 per cent. Federal government nondefense spending contracted by 6.0 per cent in Q1 while defense and state and local spending were up in the quarter.
US nominal GDP growth (including the impacts of rising prices) was 3.8 per cent in Q1, compared to 4.1 per cent growth reported in the fourth quarter. The personal consumption expenditure price index increased 0.6 per cent, following a 1.5 per cent increase last quarter.
Source: US Bureau of Economic Analysis
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