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U.S. GDP rose by 2.2% in Q4

Friday, Feb 27 2015
U.S. GDP increased at an annual rate of 2.2% in the fourth quarter of 2014, according to the "second" estimate released by the Bureau of Economic Analysis.  In the third quarter, real GDP increased 5.0 percent. In the advance estimate, the increase in real GDP was 2.6%.  
 
The increase in real GDP in the fourth quarter reflected positive contributions from personal consumption expenditures (PCE), nonresidential fixed investment, exports, state and local government spending, private inventory investment, and residential fixed investment that were partly offset by a negative contribution from federal government spending.  Imports, which are a subtraction in the calculation of GDP, increased.
 
After the data USD was pushed higher against its major rivals. Euro is currently being traded few points above 1.1220 level, Sterling is around 1.5430 area, while is Aussie is slightly above 0.78 handle. Later today, Chicago PMI and Pending Home Sales figures are scheduled for a release.
More in this category: « German CPI up by 0.9% in February Chicago PMI at a five and a half year low »

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