Gross domestic product, income and expenditure, first quarter 2022

May 31, 2022, 8:47 a.m. (EDT)

Real gross domestic product (GDP) grew 0.8% in the first quarter of 2022, a third consecutive quarterly increase, mainly on the strength of increased business investment and household consumption. Growth slowed in the first quarter compared with the previous two quarters due to a drop in international exports volumes. Final domestic demand rose by 1.2%, following a 0.9% increase in the fourth quarter of 2021.

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