Chart of the Day: GDP Growth in Q1

Real GDP grew 3.2 percent in the first quarter:

Consumer spending was weak in the first quarter but fixed investment was strong. Production of goods was actually negative for the quarter, but was made up for by services, fixed investment, and extraordinarily strong net exports. The federal government contributed zero to the increase in GDP.

The PCE price index plummeted to 0.6 percent in the first quarter. Inflation is obviously very well under control.

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FACT:

Mother Jones was founded as a nonprofit in 1976 because we knew corporations and the wealthy wouldn't fund the type of hard-hitting journalism we set out to do.

Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2021 demands.

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