Posted February 27, 2020

Real GDP grew 2.1 percent in fourth quarter

Real gross domestic product increased at an annual rate of 2.1 percent in the fourth quarter of 2019, according to the second estimate released by the Bureau of Economic Analysis.

In the third quarter, real GDP also increased 2.1 percent. 

The increase in real GDP in the fourth quarter reflected positive contributions from personal consumption expenditures (PCE), federal government spending, exports, residential fixed investment, and state and local government spending that were partly offset by negative contributions from private inventory investment and nonresidential fixed investment. Imports, which are a subtraction in the calculation of GDP, decreased.

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