U.S real GDP rose at a 6.4% annual rate in the first quarter of 2021, according to the Bureau of Economic Analysis press release. The GDP reflects last month’s advance estimate of 6.4%.
Real GDP in the fourth quarter of last year grew 4.3%
The gains in the Q1 2021 GDP were fueled by the recovering economy, lifting of restrictions, and sustained government support.
In current dollar terms, GDP rose by 11.0% in Q1 2021 to $22.06 trillion.
Price index measuring gross domestic purchases surged 3.9% in Q1 2021, more than a gain of 1.7% in Q4 2020.
PCE price index jumped by 3.7% in Q1 2021, more than a gain of 1.5% in the Q4 2020.
Gains were replicated in the real gross domestic income which surged 6.8% in Q1 2021 to remain below a rise of 19.4% in Q4 2020.
Profits emanating from current production declined by a lower margin of $0.2 billion in Q1 2021, relative to a fall of $31.4 billion in Q4 2020.
Profits of domestic financial corporations fell by $3.6 billion in Q1 2021, compared to an increase of $17.5 billion in Q4 2020.
Profits made by domestic nonfinancial corporations gained by $12.4 billion in Q1 2021, compared to a decline of $48.2 billion in Q4 2020.
Rest-of-the-world profits fell by $9.0 billion in Q1 2021, compared to only a $0.7 billion decline in Q4 2020.
U.S stocks are currently mixed as the dollar gains. SPY is up 0.30%, QQQ is down 0.17%, EURUSD is down 0.08%
