Real GDP in the U.S. increased at an annual rate of 0.1% in the first quarter of 2014, according to the advance estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.6%.
The increase in real GDP in the first quarter primarily reflected a positive contribution from personal consumption expenditures (PCE) that was partly offset by negative contributions from exports, private inventory investment, nonresidential fixed investment, residential fixed investment, and state and local government spending. Winter weather was also a factor. Imports, which are a subtraction in the calculation of GDP, decreased.