US GDP grew by 0.7% in Q4

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Friday, Jan 29 2016

Real gross domestic product increased at an annual rate of 0.7% in the fourth quarter of 2015, missing forecasts on 0.8% increase, according to the "advance" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 2.0%.

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

Euro is currently being traded few points above 1.0890 level, Sterling is around 1.4280 handle, while Aussie is around 0.71 area. Later today, Chicago PMI and Revised Consumer Sentiment figures are scheduled for a release.

More in this category: « Eurozone CPI inceased by 0.4% in January US Consumer Sentiment edged lower in January »

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