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Final GDP estimate comes in higher for fourth quarter

Economic growth remains largely the same

US economy

The final estimate for real gross domestic product increased in the fourth quarter, according to the Bureau of Economic Analysis.

GDP increased at an annual rate of 2.1% in the fourth quarter of 2016, according to the third estimate. This is up from the second estimate of 1.9%, and from the third quarter’s growth rate of 3.5%.

The GDP estimate released is based on more complete data than was available for the second estimate issued last month. Although the estimate increased slightly from the last estimate, the general picture of economic growth remains largely the same.

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gdp

(Source: BEA)

Real gross domestic income increased 1% in the fourth quarter, down from the third quarter’s increase of 5%. The average of GDP and GDI, a measure of U.S. economic activity that equally weights GDP and GDI, increased 1.5% in the fourth quarter.

Here are updates to the previous estimate:

  • Current-dollar GDP: Increased to 4.2%, up from the previous estimate’s 3.9%.
  • Average of real GDI and real GDP: Came in at 1.5%
  • Gross domestic purchases price index: Increased to 2%, up from the last estimate’s 1.9%.
  • Personal consumption expenditures: Increased to 2%, up slightly from last estimate’s 1.9%.

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