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First quarter GDP growth was revised up to 1.4% from the second estimate of 1.2%and the advance estimate of 0.7%. The most <br />recent upward revision was driven by an increase in consumer spending and net exports. Economic growth is believed to have <br />improved in the second quarter to a pace of about 3.0%. The consensus forecast currently calls for GDP growth of about 2.4%in the <br />third quarter. <br />Gross Domestic Product (GDP) <br />Source: US Department of Commerce Source: US Department of Commerce <br />6/16 9/16 12/16 3/17 <br />2.9% 2.0% 2.4% 0.8% <br />-1.3% 0.5% 1.5% 0.6% <br />0.2% 0.9% -1.8% 0.2% <br />0.0% 0.2% -0.1% -0.1% <br />-0.3% 0.0% 0.1% 0.0% <br />1.4% 3.5% 2.1% 1.4% <br />Federal Government Expenditures <br />Total <br />Net Exports and Imports <br />Personal Consumption Expenditures <br />Gross Private Domestic Investment <br />State and Local (Consumption and Gross <br />Investment) <br />Components of GDP <br />-2.0% <br />-1.0% <br />0.0% <br />1.0% <br />2.0% <br />3.0% <br />4.0% <br />5.0% <br />6.0% <br />Gross Domestic Product (GDP) <br />GDP QOQ % Change <br />GDP YOY % Change <br />10219