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February 28, 2017US GDP 2016 Q4 (SECOND ESTIMATE) 
In the fourth quarter of 2016, the US economy grew at an annualized rate of 1.9 per cent, according to the second estimate from the Bureau of Economic Analysis. This was unchanged from the advance estimate and represents a slowing compared to the third quarter growth of 3.5 per cent. Real expenditure at seasonally adjusted annual rates growth occurred with:
- Personal consumption expenditures grew 3.0 per cent, increased from the advance estimate of 2.5 per cent and unchanged from the third quarter.
- Residential investment was up 9.6 per cent after two quarters of decline, down from the advance estimate of 10.2 per cent.
- Non-residential investments were up 1.3 per cent with growth in equipment and intellectual property products offsetting a decline in structures. This was down from the advance estimate of 2.4 per cent.
- Inventory investment made a positive contribution to growth increasing from $7.1 billion to $46.2 billion, lower than the $48.7 billion reported in the advance estimate.
- Government grew 0.4 per cent in the quarter with contributions from Federal nondefense and state and local, down from 1.2 per cent in the advance estimate.
- Exports and imports made negative contributions to growth as exports fell 4.0 per cent (vs -4.3 per cent in the advance estimate) after growth of 10.0 per cent in Q3 while imports, which are subtracted in the GDP calculation, rose 8.5 per cent (vs. 8.3 per cent in the advance estimate).
Real GDP in 2016 increased 1.6 per cent, a slower pace than the any of the past four years. This was unchanged in the second estimate. 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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