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Alexander Chute Economist
Tel: 902-424-5810Email:

February 28, 2018

In the fourth quarter of 2017, the US economy grew at an annualized rate of 2.5 per cent, according to the second estimate from the Bureau of Economic Analysis, revised down from 2.6 in the advance estimate. This is a decrease from growth of 3.2 per cent in Q3. Real GDP growth in the fourth quarter reflects positive contributions from personal consumption, exports, residential and non-residential fixed investment, and government spending that was partially offset by negative contributions from private inventory investment and a rise in imports.

Nominal GDP growth was 4.9 per cent in Q4 compared to 5.3 per cent growth in Q3. The personal consumption expenditure price index increased 2.7 per cent in Q4 compared to 1.5 per cent in Q3.


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. This was unchanged from the advance estimate. 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 non-residential fixed investment and exports, and a smaller decrease in private inventories.




Source: US Bureau of Economic Analysis

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