美国一季度GDP点评：经济增长放缓、通胀反弹

Economic Growth - The actual GDP growth rate for the US in Q1 2024 was 1.6%, below the expected 2.5%[50] - Consumption remained the largest contributor to GDP growth, with a contribution of 1.68%[67] - Private investment contributed 0.56% to GDP, while net exports negatively impacted growth by -0.86%[67] Inflation and Prices - The PCE price index rebounded to 3.4% year-on-year in Q1 2024, up from 1.7% in the previous quarter[50] - Core PCE inflation was reported at 3.7%, significantly exceeding the expected 3.4%[53] - The increase in inflation raises concerns about potential stagflation risks in the US economy[50] Trade and Exports - US imports increased significantly, with a year-on-year growth of 7.2%, while exports decreased by 0.9%[2] - The net export contribution to GDP was -0.86%, indicating a drag on economic growth from trade deficits[50] Government Spending - Federal government spending decreased by 1.2% in Q1 2024, down from a previous increase of 4.6%[5] - Defense spending fell by 0.6%, while non-defense spending increased by 0.3%[5] Consumer Behavior - Personal consumption grew by 2.5% in Q1 2024, down from 3.3% in the previous quarter[34] - Service consumption had the highest contribution to personal consumption, at 1.78%[41] - Durable goods consumption showed negative growth of -0.09%, primarily due to rising oil prices and weak automotive demand[34]