U.S. GDP increased by 2.2% in Q4

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Friday, Mar 27 2015

U.S. GDP increased at an annual rate of 2.2% in the fourth quarter of 2014. In the third quarter, real GDP increased 5.0%. Analyst were forecasting 2.4% growth. While increases in exports and in personal consumption expenditures (PCE) were larger than previously estimated and the change in private inventories was smaller, GDP growth is unrevised, and the general picture of the economy for the fourth quarter remains the same.

The increase in real GDP in the fourth quarter reflected positive contributions from PCE, nonresidential fixed investment, exports, state and local government spending, and residential fixed investment that were partly offset by negative contributions from federal government spending and private inventory investment. Imports, which are a subtraction in the calculation of GDP, increased.

After the data USD declined slightly. Euro is currently being traded around 1.0880 area, Sterling is at 1.49 handle while Aussie is at 0.7o handle. Later today, Revised Consumer Sentiment figures are scheduled for a release.

More in this category: « Euro down in an uneventful European part of the session Consumer confidence fell less than expected »

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