BEA Releases Advance Estimate of Fourth Quarter GDP (Jan. 2018)
The Bureau of Economic Analysis released its “advance” estimate of fourth quarter 2017 Gross Domestic Product. The advance estimate is based on data that is subject to further revision compared to the “second” estimate. The advance estimate shows that real GDP increased at an annual rate of 2.6 percent during the fourth quarter of 2017.
The increase in real GDP in the fourth quarter reflected increases in personal consumption expenditures, nonresidential fixed investment, exports, residential fixed investment, federal government spending, and state and local government spending. These increases were partly offset by a decrease in private inventory investment. Imports, which is subtracted in the GDP calculation, increased.
The full BEA press release on the advance estimate of fourth quarter GDP can be accessed in the link below:
The next release—for the second estimate of fourth quarter GDP 2017 will be released on February 28, 2018.