US: Real GDP increased at an annual rate of 1.4% in the first quarter of 2017

"Real gross domestic product (GDP) increased at an annual rate of 1.4 percent in the first quarter of 2017, according to the "third" estimate," announced the Bureau of Economic Analysis on Thursday.

Key highlights:

• In the fourth quarter of 2016, real GDP increased 2.1 percent
• The GDP estimate released today is based on more complete source data than were available for the "second" estimate issued last month
• In the second estimate, the increase in real GDP was 1.2 percent
• With the third estimate for the first quarter, personal consumption expenditures (PCE) and exports increased more than previously estimated, but the general picture of economic growth remains the same
• Real gross domestic income (GDI) increased 1.0 percent in the first quarter, in contrast to a decrease of 1.4 percent in the fourth
• The average of real GDP and real GDI, a supplemental measure of U.S. economic activity that equally weights GDP and GDI, increased 1.2 percent in the first quarter, compared with an increase of 0.3 percent in the fourth quarter