+28 C°
Traffic jam:   1

US GDP declines 1.4% year-on-year in the Q1

28 April 2022
1 min.
US GDP declines 1.4% year-on-year in the Q1

United States economy

Gross domestic product (GDP) in the United States declined by 1.4% year-on-year in the Q1 2022. This follows preliminary data released by the US Department of Commerce on Thursday.

"Real GDP declined year-on-year by 1.4% in the first quarter of 2022 after rising 6.9% in the fourth quarter of 2021. In the first quarter, there was a repeat increase in cases of infection with the omicron variant of the new coronavirus and a reduction in government payments for pandemic relief," the paper said.

It is worth noting that experts previously polled by Reuters had expected the annualised US Gross domestic product (GDP) growth figure for the first quarter to be 1.1 per cent.

Consumer spending, which accounts for two-thirds of US GDP, rose 2.7% in the first quarter. Corporate capital expenditure rose by 7.3%.

Also, the PCE Core index, which the Federal Reserve closely monitors when assessing inflation risks, rose 5.2% in the first quarter after rising 5% in the previous three months.

The information provided by the Ministry of Energy is the first estimate of the US Gross domestic product (GDP) change out of three. Publication of the revised data is expected at the end of May.



Rating companies
192 Mention
Dow Jones
137 Mention
69 Mention
60 Mention
55 Mention
53 Mention
41 Mention


News from GlobalNY.biz is the freshest and most relevant information about high-profile events in the region. The task of the resource's news feed is to convey to readers with maximum accuracy and objectivity information about important events in business, politics, economy, healthcare, culture and other spheres of life in New York.
GlobalNY.biz news is a coverage of economic processes taking place in New York, the latest news of public life, incidents and an overview of political events. New York news is information about the activities of small and medium-sized businesses, the work of housing and communal services and utilities, the implementation of significant projects.
The site's journalists describe not only the life of the region, but also talk about the current state of the US economy. Everything you need to know about innovations in the field of industry and agriculture, economy and power is collected in the "News" section at GlobalNY.biz.
New York news quickly informs the reader, shows the real picture and opens up hot topics. Communication with government structures and business enables us to provide our readers with reliable, information-rich material. The main page of the portal contains the key news of New York!
Alena Potapova

Development Director
Died this year
Born this year