Gross Domestic Product (Second Estimate) and Corporate Profits (Preliminary), First Quarter 2022

Q1 2022 (2nd)
-1.5%
Q4 2021 (3rd)
+6.9%

Real gross domestic product (GDP) decreased at an annual rate of 1.5 percent in the first quarter of 2022, following an increase of 6.9 percent in the fourth quarter of 2021. The decrease was revised down 0.1 percentage point from the "advance" estimate released in April. In the first quarter, there was a resurgence of COVID-19 cases from the Omicron variant and decreases in government pandemic assistance payments.

  • Current release: May 26, 2022
  • Next release: June 29, 2022

What is Gross Domestic Product?

A comprehensive measure of U.S. economic activity. GDP measures the value of the final goods and services produced in the United States (without double counting the intermediate goods and services used up to produce them). Changes in GDP are the most popular indicator of the nation's overall economic health.

Learn More

 

Contact Personnel