Real GDP increased 1.4 percent after increasing 2.1 percent in the fourth quarter of 2016. The increase reflected contributions from nonresidential fixed investment, exports, consumer spending, and residential fixed investment.
These statistics can be used to analyze underlying trends in aggregate economic growth.
The net international investment position increased $177.2 billion to –$8,141.2 billion at the end of the first quarter of 2017 from –$8,318.4 billion at the end of the fourth quarter of 2016. In 2016, the net position decreased to –$8,318.4 billion.
The U.S. direct investment position abroad grew 5.6 percent, and the foreign direct investment position in the United States grew 12.8 percent.
Revised quarterly and annual statistics that incorporate newly available and revised source data, updated seasonal factors, and changes in source data and methodologies.
The current-account deficit increased $2.8 billion to $116.8 billion. In the financial account, net U.S. borrowing increased $40.6 billion to $115.3 billion.
The estimates of financial-account flows in these accounts, which are based on Treasury Department data, are adjusted to align the estimates with balance-of-payments concepts and to close gaps in coverage.
State personal income growth accelerated in 25 states and the District of Columbia in the first quarter of 2017. Growth ranged from –0.1 percent in Nebraska to 1.6 percent in Idaho. On average, personal income grew 1.0 percent in the first quarter.