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January 27, 2017US GDP 2016 Q4 (ADVANCE ESTIMATE)
In the fourth quarter of 2016, the US economy grew at an annualized rate of 1.9 per cent, a slowing compared to the third quarter growth of 3.5 per cent. For the advance estimate, real expenditure at seasonally adjusted annual rates growth occurred with:
- Personal consumption expenditures grew 2.5 per cent, slower than the pace of 3.0 per cent in the previous quarter with durable goods contining to have strong growth.
- Residential investment was up 10.2 per cent after two quarters of decline
- Non-residential investments were up 2.4 per cent with growth in equipment and intellectual property products offsetting a decline in structures
- Inventory investment made a positive contribution to growth increasing from $7.1 billion to $48.7 billion
- Government grew 1.2 per cent in the quarter from Federal nondefense and state and local
- Exports and imports made negative contributions to growth as exports fell 4.3 per cent after growth of 10.0 per cent in Q3 while imports, which are subtracted in the GDP calculation, rose 8.3 per cent.
Real GDP in 2016 increased 1.6 per cent, a slower pace than the any of the past four years. Positive contribution to growth came from personal consumption expenditures, residential investment, state and local governments spending, exports and federal government spending with negative offsets from private inventory investment, non-residential investment and imports.
Source: US Bureau of Economic Analysis
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