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January 30, 2020US GDP 2019 Q4 
The US economy grew 2.1 per cent (seasonally adjusted annualized rate, chained 2012 dollars) in Q4 2019, according to the advance estimate by the US BEA. Growth was same 2.1 per cent in the previous quarter due to accelerations in personal consumption, government spending, exports and residential fixed investment. These movements were partially offset by decelerations in non-residential fixed investment and inventory accumulation. Since Q3 2018, US real GDP has grown by 2.1 per cent.
The growth in Q4 2019 reflects positive contributions from personal consumption, government spending, residential investment, exports and decline in imports while there were negative contributions from non-residential fixed investment.
Personal consumption expenditure growth decelerated in Q4 with an increase of 1.8 per cent (annualized rate) compared to 3.1 per cent growth in the previous quarter. Gains in both durable and nondurable goods led to growth of 1.2 per cent among goods expenditures while services were up 2.0 per cent. Non-residential investment declined 1.5 per cent with declines in structures and equipment. Residential investment grew 5.8 per cent following six consecutive quarterly declines. Exports rose 1.4 per cent with increased services exports (6.4 per cent) offsetting a decline in goods (-1.1 per cent). Imports declined 8.7 per cent compared to the previous quarter.
US nominal GDP growth (including the impacts of rising prices) was 3.6 per cent in Q4, compared to 3.8 per cent growth reported in the third quarter. The personal consumption expenditure price index increased 1.6 per cent, following a 1.5 per cent increase last quarter.
Source: US Bureau of Economic Analysis
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