US GDP grows in first quarter, details in BEA report.

US GDP grows in first quarter, details in BEA report.

The U.S. Bureau of Economic Analysis (BEA) released its second estimate for the first quarter of 2025, indicating that the real Gross Domestic Product (GDP) increased by 2.4 percent in the fourth quarter of 2024, and then decreased at an annual rate of 0.2 percent in the first quarter of 2025 [1].

The decrease in real GDP in the first quarter was primarily driven by an increase in imports, which are subtracted from the calculation of GDP, and a decrease in government spending. These factors were partly offset by increases in investment, consumer spending, and exports. The current release of the data was made on May 29, 2025, with the next release scheduled for June 26, 2025 [1].

The GDP data is a comprehensive measure of U.S. economic activity, reflecting the value of the final goods and services produced in the United States. Changes in GDP are widely used as an indicator of the nation's overall economic health [1].

For more detailed information, the full release and tables are available on the BEA's website [1].

References:
[1] https://www.bea.gov/data/gdp/gross-domestic-product