Posted March 28, 2018

GDP grew by 2.9 percent in 4Q

Real gross domestic product increased at an annual rate of 2.9 percent in the fourth quarter of 2017, according to the third estimate released by the Bureau of Economic Analysis.

In the third quarter, real GDP increased 3.2 percent.

Real gross domestic income (GDI) increased 0.9 percent in the fourth quarter, compared with an increase of 2.4 percent in the third. The average of real GDP and real GDI, a supplemental measure of U.S. economic activity that equally weights GDP and GDI, increased 1.9 percent in the fourth quarter, compared with an increase of 2.8 percent in the third quarter.

The increase in real GDP in the fourth quarter primarily reflected positive contributions from personal consumption, nonresidential and residential fixed investment, exports, state and local government spending, and federal government spending that were partly offset by a negative contribution from private inventory investment.

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