U.S. Q4 GDP Final Rate Revised to 0.5%, Below Forecast
Final U.S. Q4 GDP revised to a 0.5% annualized pace, under the 0.7% forecast.
The Bureau of Economic Analysis released its final estimate for the fourth quarter, showing real gross domestic product grew at an annualized 0.5% pace, below the 0.7% forecast.
Final estimates revise earlier advance and second readings with more complete source data. The BEA incorporates additional reports from businesses and government agencies, including administrative records and late survey responses.
Quarterly revisions typically reflect updated data on consumer spending, business investment, inventories, government spending and international trade. The 0.5% figure is the annualized change in inflation-adjusted output for Q4.
Economists and market participants compare advance, second and final estimates to see how new information alters the growth picture. The BEA issues the advance estimate soon after the quarter ends, a second estimate with more data, and a final estimate that refines the headline rate.
Gross domestic product measures the total inflation-adjusted value of goods and services produced in the United States. The final Q4 number is one of several indicators used to assess recent economic activity.
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