by Bill McBride on 2/26/2016 08:33:00 AM
Friday, February 26, 2016
Real gross domestic product -- the value of the goods and services produced by the nation’s economy less the value of the goods and services used up in production, adjusted for price changes -- increased at an annual rate of 1.0 percent in the fourth quarter of 2015, according to the "second" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 2.0 percent.Here is a Comparison of Second and Advance Estimates. PCE growth was revised down from 2.2% to 2.0%. Residential investment was revised down from 8.1% to 8.0%. This was above the consensus forecast.
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 0.7 percent. With this second estimate for the fourth quarter, the general picture of economic growth remains the same; private inventory investment decreased less than previously estimated ...
Posted by Bill McBride on 2/26/2016 08:33:00 AM