DataWatch reports "business fixed investment – equipment, structures, and intellectual property – was revised to a 9.2% annualized growth rate from a prior estimate of 6.1%. Compared to a year ago, real GDP is up 2.8% and we are increasingly confident we will see growth of around 4% for the second quarter. The tax cuts enacted in late December – paired with deregulation coming from Washington, DC - are spurring increased activity and higher levels of business investment, both of which should push productivity higher going forward." (1st Quarter GDP (Preliminary) dated May 30, 2018 by Brian Wesbury, Chief Economist, Robert Stein, CFA & Dep. Chief Economist, and Strider Elass, Senior Economist, with First Trust Advisors LP)
Full report can be found here:
https://www.ftportfolios.com/Commentary/EconomicResearch/2018/5/30/real-gdp-was-revised-slightly-lower-to-a-2.2percent-annual-rate-in-q1