FIRST QUARTER 2018 REAL GDP GROWTH +2.3%
Contributions to percentage change in first quarter 2018
Real GDP Growth
- Service-sector consumer spending: 0.97%
- Nonresidential fixed investment: 0.76%
- Change in private inventories: 0.43%
- Net exports: 0.20%
- Federal goverment spending: 0.11%
- State and local government spending: 0.09%
- Nondurable-goods consumption: 0.01%
- Residential fixed investment: 0.00%
- Durable-goods consumption: -0.25%
On the manufacturing front, new durable-goods orders rose for the second straight month, up 2.6 percent in March and extending the 3.5 percent gain in February. New durable-goods orders jumped from $248.6 billion in February to $254.9 billion in March, a new all-time high.
With that said, much of the increase in both months came from nondefense aircraft and parts orders, which can have large monthly swings. Indeed, new orders for durable-goods with transportation equipment excluded were unchanged in March. New durable-goods orders have trended strongly higher across the past 12 months, soaring 9.5 percent since March 2017, or 6.7 percent yearover-year with transportation equipment excluded.
U.S. manufacturing corporations