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
The author, KetanDeshpande, lives in Minnesota and writes about a variety of topics in his blog such as global economy, market and industry trends, successful strategies for businesses, and others. Leveraging his global strategic leadership experience from the manufacturing industry to offer insights in to how businesses can meet the sustainable growth and profitability goals.
Ketan Deshpande is also passionate about sustainability and renewable energy; he curates and shares latest updates in his blog posts. Recently the Southern Minnesota Municipal Power Agency(SMMPA) of Litchfield, Minnesota, endorsed Ketan Deshpande for an energy conservation project.
This blog also features memorable events, travel experiences and his favorite places to visit in the great state of Minnesota.
Blog post by Ketan Deshpande, Minnesota, MN
One thought on “U.S. Q4 GDP Growth Revised”