• Real GDP increased at an annual rate of 3.1% in the first quarter of 2019, according to the “third” estimate by the Bureau of Economic Analysis. In the fourth quarter of 2018, real GDP increased 2.2%.
  • Real gross domestic income (GDI) increased 1.0% in the first quarter, compared with an increase of 0.5% in the fourth quarter. The average of real GDP and real GDI, a supplemental measure of U.S. economic activity that equally weights GDP and GDI, increased 2.1% in the first quarter, compared with an increase of 1.3% in the final quarter of 2018.
  • The price index for gross domestic purchases increased 0.8% in the first quarter, compared with an increase of 1.7% in the fourth quarter. The personal consumption expenditures (PCE) price index increased 0.5%, compared with an increase of 1.5%. Excluding food and energy prices, the PCE price index increased 1.2%, compared with an increase of 1.8%.
  • Profits from current production (corporate profits with inventory valuation and capital consumption adjustments) decreased $59.3 billion in the first quarter, compared with a decrease of $9.7 billion in the fourth quarter.
  • Profits of domestic financial corporations increased $1.4 billion in the first quarter, in contrast to a decrease of $25.2 billion in the fourth quarter. Profits of domestic nonfinancial corporations decreased $68.1 billion, in contrast to an increase of $13.6 billion. Rest-of-the-world profits increased $7.4 billion, compared with an increase of $1.9 billion.
  • State personal income increased 3.4% at an annual rate in the first quarter of 2019, a deceleration from the 4.1% increase in the fourth quarter of 2018, according to the Bureau of Economic Analysis. Personal income increased in all states except South Dakota. The percent change in personal income across all states ranged from 5.6% in West Virginia to negative 0.6% in South Dakota.

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