US real GDP increased at an annual rate of 3% in the fourth quarter of last year, according to the third and final estimate from the Bureau of Economic Analysis (BEA).
The figure is unchanged from the previous estimate, and compares to growth of 1.8% in the third quarter. The BEA said the boost in real GDP was primarily due to an acceleration in imports and personal consumption, but was offset by reduced government spending. Exports were up 2.7% compared to an increase of 4.7% the previous quarter, while imports increased by 3.7%. The estimate also reflects positive contributions from private inventory investment, nonresidential and residential fixed investment, the BEA said. Domestic profits of financial corporations increased $29.9bn in the ...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
