Skip to main content

GDP (Q1 1st Estimate)

First-quarter GDP growth came in at a disappointing 2.2% annualised, but the undershoot compared with the 2.5% consensus forecast was largely explained by an unexpected second consecutive quarterly slump in defence spending, which subtracted 0.4% from overall growth. At least private sector spending posted a decent gain, although we'll find out over the next few months just how much of that gain was due to the mild winter.

Become a client to read more

This is premium content that requires an active Capital Economics subscription to view.

Already have an account?

You may already have access to this premium content as part of a paid subscription.

Sign in to read the content in full or get details of how you can access it

Register for free

Sign up for a free account to:

  • Unlock additional content
  • Register for Capital Economics events
  • Receive email updates and economist-curated newsletters
  • Request a free trial of our services


Get access