ABA Banking Journal
No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
SUBSCRIBE
ABA Banking Journal
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
No Result
View All Result
No Result
View All Result
ADVERTISEMENT
Home Economy

GDP Revised up to 0.8 Percent in the First Quarter

May 27, 2016
Reading Time: 1 min read

Real GDP for the first quarter of 2016 grew at an annual rate of 0.8 percent, according to the Bureau of Economic Analysis’s second estimate. First quarter GDP was revised up from the advance estimate of 0.5 percent growth, as the decrease in private inventory investment was smaller than previously estimated. During the fourth quarter of 2015, real GDP grew at a rate of 1.4 percent.

Consumption was the largest contributor to GDP accounting for 1.3 percent of growth, compared to 1.7 percent during the fourth quarter. Consumption spending grew by $53.5 billion during the first quarter of 2016, compared to $68.3 billion during the fourth quarter of 2015.

Non-residential fixed investment was a significant drag on GDP, subtracting 0.8 percent from growth. The fall in non-residential fixed investment was partially offset by a $22.0 billion increase in residential fixed investment, which contributed 0.6 percent to GDP.

Inventories subtracted 0.2 percent from GDP, a lower figure than the 0.3 percent subtraction estimated previously. Both farm and nonfarm private inventories declined during the quarter. The negative impact of net exports was also revised during the quarter, falling from a 0.3 percent drag to a 0.2 percent drag.

State and local government spending grew, contributing 0.3 percent to GDP. This was offset by a decrease in Federal government spending, which was a 0.1 percent drag.

Read the BEA release.

ADVERTISEMENT
Tags: GDP
ShareTweetPin

Related Posts

ABA urges FCC to combat illegal call spoofing

ABA urges FCC to impose call authentication requirement for non-IP networks, mandate IP transition

Compliance and Risk
July 16, 2025

ABA joined six trade associations in urging the FCC to adopt a proposal to create a new call authentication requirement designed to limit criminal access to the U.S. calling network.

ABA faults banking regulators for confusing CRA rule rollout

Banking agencies propose to rescind Community Reinvestment Act rule

Community Banking
July 16, 2025

The Federal Reserve, FDIC and OCC issued a joint proposal to rescind the Community Reinvestment Act final rule adopted in 2023.

Bank economists grow more optimistic about business credit, soft landing

Beige Book: Economic activity ticks up

Economy
July 16, 2025

Economic activity increased slightly from late May through early July, with five Federal Reserve districts reporting slight or modest gains, five with flat activity and the remaining two experiencing modest declines in activity, according to the fifth Beige...

ABA banker: Long-term Farm Bill would boost ag economy

ABA banker: Long-term Farm Bill would boost ag economy

Ag Banking
July 16, 2025

The agricultural provisions in the recently enacted budget reconciliation bill will provide a strong backstop for agricultural producers, but a long-term Farm Bill is still needed, Clint Hood, SVP for Synovus Bank in Dublin, Georgia, told House lawmakers.

CFPB releases mortgage servicing proposal, overhauls loss mitigation framework

FHFA releases FAQ about Fannie, Freddie credit score change

Compliance and Risk
July 16, 2025

FHFA released an FAQ on the recent announcement that Fannie Mae and Freddie Mac will expand credit scoring options. Fannie and Freddie have also created webpages about the planned implementation of the policy.

Industrial production rose in March

Industrial Production rose in June

Economy
July 16, 2025

Industrial production (IP) rose 0.3% in June after remaining unchanged in April and May. For the second quarter as a whole, IP increased at an annual rate of 1.1%.

NEWSBYTES

ABA urges FCC to impose call authentication requirement for non-IP networks, mandate IP transition

July 16, 2025

Banking agencies propose to rescind Community Reinvestment Act rule

July 16, 2025

Beige Book: Economic activity ticks up

July 16, 2025

SPONSORED CONTENT

Navigating Disruption in Ag Lending – Why Tariffs Are Just the Tip of the Iceberg

Navigating Disruption in Ag Lending – Why Tariffs Are Just the Tip of the Iceberg

July 1, 2025
AI Compliance and Regulation: What Financial Institutions Need to Know

Unlocking Deposit Growth: How Financial Institutions Can Activate Data for Precision Cross-Sell

June 1, 2025
Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

April 25, 2025
Outsourcing: Getting to Go/No-Go

Outsourcing: Getting to Go/No-Go

April 5, 2025

PODCASTS

Breaking down the bank-related provisions in the big budget bill

July 10, 2025

Podcast: Inside ABA’s new Treasury Check Verification System API

June 25, 2025

Podcast: Staying close to clients amid tariff-driven volatility

June 18, 2025
ADVERTISEMENT

American Bankers Association
1333 New Hampshire Ave NW
Washington, DC 20036
1-800-BANKERS (800-226-5377)
www.aba.com
About ABA
Privacy Policy
Contact ABA

ABA Banking Journal
About ABA Banking Journal
Media Kit
Advertising
Subscribe

© 2025 American Bankers Association. All rights reserved.

No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive

© 2025 American Bankers Association. All rights reserved.