The third look at Q4 GDP
- Second reading was +2.5%
- Q3 was +3.2%
- Personal consumption revised to +4.0% vs +3.8% in the second reading
- Consumer spending rise was biggest in 3 years
- GDP price index unchanged at +2.3%, as expected
- Core PCE q/q +1.9%, as expected
Details:
- Business investment +6.8% from +6.6%
- Home investment +12.8% from +13.0%
- Business investment in structures +6.3% from +2.5%
- Inventories +$15.6B from +8.0B
- Corporate profits after tax +1.7%
- Trade cut 1.16 pp from GDP
- Inventories cut 0.53 pp from GDP
- Government spending +3.0% annualized
