Posted March 30, 2022

Q4 GDP grew by 6.9 percent

Real gross domestic product increased at an annual rate of 6.9 percent in the fourth quarter of 2021, according to the "third" estimate released by the Bureau of Economic Analysis.

Read GDP Q4 2021In the third quarter, real GDP increased 2.3 percent.

The increase was revised down 0.1 percentage point from the "second" estimate released in February.

The acceleration in the fourth quarter was led by an acceleration in inventory investment, upturns in exports and residential fixed investment and an acceleration in consumer spending. In the fourth quarter, COVID-19 cases resulted in continued restrictions and disruptions in the operations of establishments in some parts of the country. Government assistance payments in the form of forgivable loans to businesses, grants to state and local governments, and social benefits to households all decreased as provisions of several federal programs expired or tapered off.

Click for details.