Wednesday, April 30, 2014

GDP: Q1 2014 (First Estimate)

Today, the Bureau of Economic Analysis (BEA) released their first "estimate" of the Q1 2014 GDP report showing that the economy grew weakly in the quarter with real GDP improving at an annualized rate of 0.1% from Q4 2013.

On a year-over-year basis, real GDP increased 2.33% while the quarter-to-quarter non-annualized percent change was an increase of 0.03%.

The latest quarterly results indicate that notable sources of weakness in the economy came from declines in exports, non-residential investment in equipment, private residential investment, and national defense spending.

Keep in mind that these results are likely very poorly estimated and are sure to be revised notably in following quarters and even years to come.