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Alexander Chute Economist
Tel: 902-424-5810Email: Alexander.Chute@novascotia.ca

January 26, 2018
US GDP 2017 Q4 (ADVANCE ESTIMATE)

In the fourth quarter of 2017, the US economy grew at an annualized rate of 2.6 per cent, according to the advance estimate from the Bureau of Economic Analysis, a decrease from growth of 3.2 per cent in Q3. Nominal GDP increased 5.0 per cent, compared to growth of 5.3 per cent in Q3 with the personal consumption expenditure price index rising 2.8 per cent in Q4 compared to 1.5 per cent in Q3.

Real GDP growth in the fourth quarter reflects positive contributions from personal consumption, non-residential fixed investment, exports, residential, and government spending that was partially offset by negative contributions from inventory investment and a rise in imports.

 

 

In 2017, the US economy expanded by 2.3 per cent, a faster pace than 1.5 per cent in 2016 but slower than 2014 and 2015. Positive contributions to growth came from personal consumption, nonresidential fixed investment and exports. The acceleration in the 2017 growth rate compared to 2016 was due to upturns in nonresidential fixed investment, exports and a smaller decrease in inventories.

 

 

 

Source: US Bureau of Economic Analysis



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