Real gross domestic product (GDP) increased at an annual rate of 3.1% in the first quarter of 2019, according to the most recent estimate released by the Commerce Department. In the fourth quarter, real GDP increased 2.2%.
Initially, the increase in real GDP in the first quarter was 3.2%. This new estimate reflects downward revisions to nonresidential fixed investment and private inventory investment and upward revisions to exports and personal consumption expenditures. Imports, which are a subtraction in the calculation of GDP, were revised up; the general picture of economic growth remains the same.