![\"\"](\"https:\/\/new.thepinetree.net\/wp-content\/uploads\/2018\/01\/bealogo.jpg\")
<\/p>\nWashington, DC…Real gross domestic product (GDP) increased at an annual rate of 2.5 percent in the fourth quarter of 2017, according to the “second” estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.2 percent. The GDP estimate released today is based on more complete source data than were available for the “advance” estimate issued last month. In the advance estimate, the increase in real GDP was 2.6 percent. With this second estimate for the fourth quarter, the general picture of economic growth remains the same.<\/p>\n
<\/p>\n
Real GDP: Percent Change from Preceding Quarter<\/p>\n
The increase in real GDP in the fourth quarter reflected positive contributions from personal
\nconsumption expenditures (PCE), exports, nonresidential fixed investment, residential fixed investment,
\nstate and local government spending, and federal government spending that were partly offset by a
\nnegative contribution from private inventory investment. Imports, which are a subtraction in the
\ncalculation of GDP, increased (table 2).<\/p>\n
The deceleration in real GDP growth in the fourth quarter reflected a downturn in private inventory
\ninvestment that was partly offset by accelerations in PCE, exports, state and local government spending,
\nnonresidential fixed investment, and federal government spending, and an upturn in residential fixed
\ninvestment. Imports, which are a subtraction in the calculation of GDP, turned up.<\/p>\n
Current-dollar GDP increased 4.9 percent, or $235.9 billion, in the fourth quarter to a level of $19,736.5
\nbillion. In the third quarter, current-dollar GDP increased 5.3 percent, or $250.6 billion (table 1 and table
\n3).<\/p>\n
The price index for gross domestic purchases increased 2.5 percent in the fourth quarter, compared
\nwith an increase of 1.7 percent in the third quarter (table 4). The PCE price index increased 2.7 percent,
\ncompared with an increase of 1.5 percent. Excluding food and energy prices, the PCE price index
\nincreased 1.9 percent, compared with an increase of 1.3 percent (appendix table A).<\/p>\n
Updates to GDP<\/p>\n
The percent change in real GDP was revised down 0.1 percentage point from the advance estimate,
\nprimarily reflecting a slight downward revision to private inventory investment. For more information,
\nsee the Technical Note. A detailed “Key Source Data and Assumptions” file is also posted for each
\nrelease. For information on updates to GDP, see the “Additional Information” section that follows.<\/p>\n
Advance Estimate Second Estimate
\n (Percent change from preceding quarter)
\nReal GDP 2.6 2.5
\nCurrent-dollar GDP 5.0 4.9
\nGross domestic purchases price index 2.5 2.5
\nPCE price index 2.8 2.7<\/p>\n
2017 GDP<\/p>\n
Real GDP increased 2.3 percent in 2017 (that is, from the 2016 annual level to the 2017 annual level),
\ncompared with an increase of 1.5 percent in 2016 (table 1).<\/p>\n
The increase in real GDP in 2017 primarily reflected positive contributions from PCE, nonresidential fixed
\ninvestment, and exports. These contributions were partly offset by a decline in private inventory
\ninvestment. Imports, which are a subtraction in the calculation of GDP, increased (table 2).<\/p>\n
The acceleration in real GDP from 2016 to 2017 reflected upturns in nonresidential fixed investment and
\nin exports and a smaller decrease in private inventory investment. These movements were partly offset
\nby decelerations in residential fixed investment and in state and local government spending. Imports,
\nwhich are a subtraction in the calculation of GDP, accelerated.<\/p>\n
Current-dollar GDP increased 4.1 percent, or $761.7 billion, in 2017 to a level of $19,386.2 billion,
\ncompared with an increase of 2.8 percent, or $503.8 billion, in 2016 (table 1 and table 3).<\/p>\n
The price index for gross domestic purchases increased 1.8 percent in 2017, compared with an increase
\nof 1.0 percent in 2016 (table 4). The PCE price index increased 1.7 percent, compared with an increase
\nof 1.2 percent. Excluding food and energy prices, the PCE price index increased 1.5 percent, compared
\nwith an increase of 1.8 percent (appendix table A).<\/p>\n
During 2017 (measured from the fourth quarter of 2016 to the fourth quarter of 2017), real GDP
\nincreased 2.5 percent, compared with an increase of 1.8 percent during 2016. The price index for gross
\ndomestic purchases increased 1.9 percent during 2017, compared with an increase of 1.4 percent during
\n2016 (table 7).<\/p>\n","protected":false},"excerpt":{"rendered":"
Washington, DC…Real gross domestic product (GDP) increased at an annual rate of 2.5 percent in the fourth quarter of 2017, according to the “second” estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.2 percent. The GDP estimate released today is based on more complete source data than were […]<\/p>\n","protected":false},"author":1,"featured_media":51820,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_cbd_carousel_blocks":"[]","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,20,1],"tags":[],"class_list":["post-54176","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-featured","category-news","last_archivepost"],"jetpack_featured_media_url":"https:\/\/new.thepinetree.net\/wp-content\/uploads\/2018\/01\/bealogo.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/54176","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=54176"}],"version-history":[{"count":0,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/posts\/54176\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=\/wp\/v2\/media\/51820"}],"wp:attachment":[{"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=54176"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=54176"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.thepinetree.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=54176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}