A report from
the Commerce Department showed on Thursday that the U.S. economy grew more than
initially thought in the fourth quarter of 2020, primarily reflecting an upward
revision to private inventory investment that was partly offset by a downward
revision to nonresidential fixed investment.
According to the third estimate, the U.S. gross domestic product (GDP) grew at an annual rate of 4.3 percent in the fourth quarter, better than a 4.1 percent advance reported in the second estimate.
Economists had expected the contraction rate to be unrevised at 4.1 percent.
In the third quarter, the economy expanded by a record 33.4 percent q-o-q.
The increase in real GDP reflected gains in exports, nonresidential fixed investment, personal consumption expenditures (PCE), residential fixed investment, and private inventory investment, which were partly offset by declines in state and local government spending as well as federal government spending (reflecting fewer fees paid to administer the Paycheck Protection Program loans). Meanwhile, imports, which are a subtraction in the calculation of GDP, rose.
© 2000-2021. All rights reserved.
This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at email@example.com.