Construction Lets GDP Down in Q1 2019

Real US GDP grew 3.1% in the first quarter lead by strength in finance and insurance, retail trade and health care and social assistance

July 29, 2019
Larry Stewart
Regionally, the Southwest recorded the highest growth rates for the first quarter of 2019 at 4.8%.
Regionally, the Southwest recorded the highest growth rates for the first quarter of 2019 at 4.8%.
National Association of Home Builders

The National Association of Home Builders reports real gross domestic product (GDP) increased in all 50 states and the District of Columbia in the first quarter 2019 compared to the last quarter of 2018. The U.S. Bureau of Economic Analysis (BEA) reported that real GDP growth rates, measured as a seasonally adjusted annual rate, ranged from 5.2% in West Virginia to 1.2% in Hawaii.

Nationwide, real GDP growth increased to 3.1% in the first quarter of 2019, from 2.2% in the last quarter of 2018. Finance and insurance; retail trade; and health care and social assistance were the leading contributors to the acceleration in real GDP growth in the first quarter.

The BEA also reported that the construction industry contributed nothing to U.S. GDP growth in the first quarter.

(more on Q1 GDP detail . . . )

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