Cargo containers sit idle at the Port of Los Angeles as a back-log of over 30 container ships sit anchored outside the Port in Los Angeles, California, February 18, 2015. (Photo: Reuters)
The Bureau of Economic Analysis (BEA) said the second estimate for first quarter (1Q) gross domestic product (GDP) matched the forecast at 2.2%.
Real gross domestic income (GDI) increased 2.8% in the 1Q 2018, compared with an increase of 1.0% (revised) in the 4Q. The average of real GDP and real GDI, a supplemental measure of U.S. economic activity that equally weights GDP and GDI, increased 2.5% in the 1Q, compared with an increase of 2.0% in the 4Q.
The price index for gross domestic purchases advanced 2.7% in the 1Q juxtaposed to an increase of 2.5% in the 4Q. The PCE price index increased 2.6%, compared with an increase of 2.7%.
Excluding food and energy prices, the PCE price index increased 2.3%, compared with an increase of 1.9%.
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