Posted February 24, 2022

4Q GDP increased 7.0 percent

Real gross domestic product (GDP) increased at an annual rate of 7.0 percent in the fourth quarter of 2021, according to the "second" estimate released by the Bureau of Economic Analysis.

Fourth Quarter 2021 GDPIn the third quarter, real GDP increased 2.3 percent.

In the advance estimate, the increase in real GDP was 6.9 percent.

The increase in real GDP primarily reflected increases in private inventory investment, exports, PCE, and nonresidential fixed investment that were partly offset by decreases in both federal and state and local government spending.

The increase in private inventory investment was led by retail and wholesale trade industries. Within retail, inventory investment by motor vehicle dealers was the leading contributor. The increase in exports reflected increases in both goods and services. The increase in exports of goods was widespread, and the leading contributors were consumer goods, foods, feeds, and beverages, as well as industrial supplies and materials.

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