Economists largely expect the U.S. to rebound in Q2 as some of the factors holding back growth early in the year—including supply-chain issues stemming from Russia’s invasion of Ukraine—subside, according to CNBC.  

Q1’s decline was the worst for GDP performance since the 31.2% drop seen in Q2 2020, CNBC reported. Real GDP decreased at an annual rate of 1.5% in the first quarter of 2022, according to the Commerce Department’s Bureau of Economic Analysis. The decline was steeper than the 1.3% estimated by Dow Jones. In 2021’s fourth quarter, real GDP increased 6.9%.   

The decrease in real GDP reflected decreases in private inventory investment, exports, federal government spending, and state and local government spending, while it saw an increase in imports, which are a subtraction in the calculation of GDP. Personal consumption expenditures, nonresidential fixed investment, and residential fixed investment increased.  

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