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Financial News: U.S. GDP Growth Unrevised At 2.1% In Q4

U.S. GDP Growth Unrevised At 2.1% In Q4

03/26/2020 - 09:01:00 (RTTNews)

(RTTNews) - A report released by the Commerce Department on Thursday showed the increase in U.S. gross domestic product in the fourth quarter was unrevised from the previous estimate.

The Commerce Department said GDP increased by 2.1 percent in the fourth quarter, unchanged from the estimate provided last month and in line with economist estimates.

The unrevised growth came as an upward revision to consumer spending was largely offset by downward revisions to federal government spending and non-residential fixed investment.

GDP growth in the fourth quarter was unchanged from the third quarter, as a downturn in imports and an acceleration in government spending were offset by a larger decrease in private inventory investment and a slowdown in consumer spending.

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