U.S. GDP Growth Holds Steady In Fourth Quarter At 2.5%

The nation’s general economic picture held steady in the fourth quarter of 2017 as strong consumer spending, fixed investments and government outlays picked up in the months heading into the Christmas holiday season, according to the second estimate of the nation’s Gross Domestic Product report released Wednesday (Feb. 26) by the Bureau of Economic Analysis (BEA).

The final quarterly spotlight on U.S. economic growth in 2017 will be released on March 28. The revised “second” estimate of 2.5% GDP growth in the three month period ended Dec. 31 is moderately one-tenth of a percentage point below the first estimate released by the BEA on Jan. 26.

Still, the revised 2.5% output for the U.S. GDP growth matched Wall Street consensus forecasts for the final quarter of 2017, and will set the U.S. economy on target to close out the first year of President Donald Trump’s administration with annual growth of 2.5%, compared to a tepid 1.85% expansion in 2016.   MORE

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