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:
April 25, 2024US GDP 2024 Q1 (ADVANCED ESTIMATE) 
The Bureau of Economic Analysis released the advanced estimates of Q1 2024 US Real Gross Domestic Product (GDP).
US real GDP growth was estimated at 1.6% (seasonally adjusted annualized rate) in Q1 2024 in the first estimate.
The increase in real GDP was supported by increases in consumer spending (+2.5%), exports (+0.9%), state and local government spending (+2.0%), nonresidential fixed investment (+2.9%), residential investment (+13.9%) and federal government (nondefense) spending (+0.3%). These gains were partially offset by greater imports (+7.2%), which are a subtracted in the GDP calculation.
Current-dollar GDP growth was 4.8% (annualized rate) following an 5.1% current-dollar GDP increase in Q4 2023.
Private inventory investment was estimated at $35.4 billion net accumulation.
Source: US Bureau of Economic Analysis, Key source data, retrieved from Federal Reserve Bank of St. Louis using a FRED API.
Next release is on May 30, 2024.
<--- Return to Archive
