On Friday US BEA released an Advance Estimate of US GDP growth for 1Q2019 of 3.2% ADR, despite the government being shut down for part of the quarter.
The new quarterly growth estimate follows a 2.2% growth in 4Q2018.
Contributing factors to the 1Q2019 growth include:
- Increased personal consumption expenditures
- Inventory investment
- Exports
- State and local government spending
Tourism makes significant contributions to both personal consumption (by domestically-touring Americans) and exports (to inbound international travelers).
