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March 27, 2015US GDP Q4 AND ANNUAL 2014 (THIRD ESTIMATE) Revised US GDP growth for the fourth quarter, at 2.2 per cent, was unchanged compared to the second estimate. Small upward revisions to personal expenditures and exports were offset by lower inventories so the general picture of the economy is the same. The fourth quarter positive contributions from personal consumption expenditures, nonresidential fixed investment, state and local government spending, and residential fixed investment were partly offset by negative contributions from federal spending and private inventory investment.
US Annual GDP 2014
US Real GDP increased 2.4 per cent in 2014, compared with an increase of 2.2 percent in 2013. Most consumption and investment categories contributed to GDP growth, though there were offsetting increases in real imports. There were notable gains in non-residential investments and personal consumption expenditures as well as a slower decline in Federal government spending.
Current-dollar (nominal) GDP increased 3.9 percent in 2014.
Source: US Bureau of Economic Analysis