Q4 GDP Advance Estimate is 2.8%

According to the BEA, real gross domestic product grew at an annualized rate of 2.8% in the fourth quarter. The BEA notes that the advance estimate is "incomplete" and is subject to further revision.
Personal consumption expenditures grew at an annualized rate of 2.0% in the fourth quarter, while government consumption expenditures and gross investment fell by 4.6%.
Disposable income increased 1.5% in the fourth quarter, while the personal saving rate (saving as a percentage of disposable personal income) dropped from 3.9% to 3.7% in Q4.
The BEA also revealed that real GDP grew by 1.8% in the third quarter of 2011.
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According to the BEA, real GDP increased 1.7% in 2011.
Let's look at GDP growth (or lack of it) over the past five years:
2007, 1.9%
2008, -0.3%
2009, -3.5%
2010, 3.0%
2011, 1.7%
Source: Historical GDP Numbers
Source: BEA.gov
Filed under: General Knowledge