Posted February 25, 2021

GDP increased by 4.1% in 4Q

Real gross domestic product (GDP) increased at an annual rate of 4.1 percent in the fourth quarter of 2020, according to the "second" estimate released by the Bureau of Economic Analysis.

Real GDP 4Q 2020In the third quarter, real GDP increased 33.4 percent.

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

The increase in exports primarily reflected an increase in goods, led by industrial supplies and materials.