The Economics and Statistics Division maintains archives of previous publications for accountability purposes, but makes no updates to keep these documents current with the latest data revisions from Statistics Canada. As a result, information in older documents may not be accurate. Please exercise caution when referring to older documents. For the latest information and historical data, please contact the individual listed to the right.
<--- Return to Archive
For additional information relating to this article, please contact:
June 27, 2019US GDP 2019 Q1 (THIRD ESTIMATE) 
The US economy grew at 3.1 per cent (seasonally adjusted annualized rate, chained 2012 dollars) in Q1 2019, according to the third estimate by the US BEA. The second estimate of real GDP growth was also at 3.1 per cent with upward revisions to non-residential fixed investment, exports, state and local government, residential investment offsetting downward revisions to personal consumption and inventories. 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 exports, personal consumption, non-residential fixed investment, inventories, state and local government spending that were slightly offset by a negative contribution from residential fixed investment.
Personal consumption expenditure growth slowed with a increase of 0.9 per cent (annualized rate, second estimate was 1.3 per cent) compared to averaging 3.3 per cent over the previous three quarters. Non-residential investment growth was 4.4 per cent driven by continued increases in intellectual property products while equipment spending declined 1.0 per cent after eight quarters of solid growth. Non-residential structure spending was up 4.4 per cent after declines the previous two quarters. Residential investment contracted for the fifth consecutive quarters with a 2.0 per cent decline. Exports rose 5.4 per cent with gains in goods (+6.0%) and services (+4.4%). Imports declined 1.9 per cent. Federal government nondefense spending contracted by 5.8 per cent in Q1 while defense and state and local government spending was up in the quarter.
US nominal GDP growth (including the impacts of rising prices) was 3.8 per cent in Q1 (second estimate was 3.6%), compared to 4.1 per cent growth reported in the fourth quarter. The personal consumption expenditure price index increased 0.5 per cent, following a 1.5 per cent increase last quarter.
Source: US Bureau of Economic Analysis
<--- Return to Archive
