U.S. GDP increased at an annual rate of 3.2% in the first quarter of 2019, according to the Department of Commerce. In the fourth quarter of 2018, GDP increased 2.2%. The increase reflected positive contributions from personal consumption expenditures, private inventory investment, exports, state & local government spending and nonresidential fixed investment. Imports, which are a subtraction in the calculation of GDP, decreased. These contributions were partly offset by a decrease in residential investment.