US GDP rises 1.1% in Q1

Automobile and healthcare sector pulled the rise; The result was 2.6% lower than that recorded in the previous quarter

According to the BEA (Bureau of Economic Analysis) estimate released this Thursday (27.Apr.2023), US GDP increased by 1.1% in the first quarter of 2023. The result was lower than economists had expected, who had predicted a 2% rise. Here it is Full of the report (119 KB, in English).

Increase in consumption of components and motor vehicles led to increase in ratio in consumer sector. Healthcare, food and accommodation are the most developed product sectors. In the previous quarter, October to December 2022, GDP growth was 2.6%.

“Compared to Q4 [de 2022], GDP slowdown in 1st quarter [de 2023] Mainly reflecting a slowdown in private inventory investment and a slowdown in non-residential fixed investment,” the statement said.

In April, the country’s inflation stood at 5% in the 12 months to March this year, the same level as in May 2021.

The US expresses GDP differently from Brazil. The rate published is the annualized rate, which is the variation that would occur if this percentage were maintained for 1 full year. The BEA said the data is preliminary and subject to revision. In Brazil, the IBGE (Brazilian Institute of Geography and Statistics) updates the percentage quarterly.