According to advance estimate, US GDP grew at an annual rate of 4.0% in Q4, below expectation of 4.2%. BEA said: “The increase in real GDP reflected increases in exports, nonresidential fixed investment, personal consumption expenditures (PCE), residential fixed investment, and private inventory investment that were partly offset by decreases in state and local government spending and federal government spending. Imports, which are a subtraction in the calculation of GDP, increased”.
