U.S. Q4 GDP Growth Revised
Latest economic reports have revised the real gross domestic product (GDP) up to a annual rate of 2.1% for the fourth quarter of 2016. This is the third estimate by the Commerce Department and the upward trend was driven by personal consumption expenditures.
Highlights
- Increase in the Gross domestic product (GDP) to 2.1% annualized pace, this was ahead of the forecast which was projected at 2% (was revised from 1.9% earlier in 2016)
- Increase is the biggest part of the economy to 3.5%, personal consumption expenditure (Consumer spending), contributed 2.4% to the over all growth (was revised from 2.05%)
- Increase in U.S. bound corporate profits, increased to 9.3% over previous year, this is the largest increase since 2012
- Trade reduced the growth by 1.82%, this is the largest reduction since 2004, indicated increases in imports and reduction in exports
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